Crown Castle Inc. (NYSE:CCI) Shares Bought by Greenleaf Trust

Greenleaf Trust increased its holdings in Crown Castle Inc. (NYSE:CCI) by 3.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,191 shares of the real estate investment trust’s stock after purchasing an additional 377 shares during the quarter. Greenleaf Trust’s holdings in Crown Castle were worth $1,209,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the first quarter valued at approximately $27,000. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its holdings in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. ORG Partners LLC acquired a new position in shares of Crown Castle during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC acquired a new position in shares of Crown Castle during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on CCI shares. Barclays increased their target price on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group increased their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $116.47.

Crown Castle Trading Up 0.7 %

CCI opened at $111.42 on Friday. Crown Castle Inc. has a 52 week low of $86.49 and a 52 week high of $120.92. The business has a fifty day simple moving average of $114.02 and a 200-day simple moving average of $105.30. The firm has a market cap of $48.42 billion, a P/E ratio of 39.51 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business earned $1.77 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.62%. Crown Castle’s dividend payout ratio is currently 221.99%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.