Crown Castle Inc. (NYSE:CCI) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Crown Castle Inc. (NYSE:CCI) by 0.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,962 shares of the real estate investment trust’s stock after purchasing an additional 426 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Crown Castle were worth $6,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Pinnacle Bancorp Inc. raised its holdings in Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares during the last quarter. Prosperity Consulting Group LLC raised its stake in shares of Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 95 shares in the last quarter. True North Advisors LLC lifted its position in shares of Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC raised its stake in Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI stock opened at $108.91 on Monday. Crown Castle Inc. has a 12-month low of $87.38 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm has a market capitalization of $47.32 billion, a price-to-earnings ratio of 34.03 and a beta of 0.85. The business has a 50 day simple moving average of $114.05 and a 200 day simple moving average of $105.48.

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

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CCI shares. Bank of America boosted 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. Royal Bank of Canada increased their target price on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Wells Fargo & Company lifted their price target on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.47.

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.