Joel Isaacson & Co. LLC Purchases Shares of 1,959 Crown Castle Inc. (NYSE:CCI)

Joel Isaacson & Co. LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,959 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Several other hedge funds have also modified their holdings of CCI. Vanguard Group Inc. boosted its holdings in shares of Crown Castle by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after purchasing an additional 673,243 shares during the last quarter. Legal & General Group Plc grew its position in Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the period. National Bank of Canada FI increased its stake in Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after acquiring an additional 391,127 shares during the last quarter. ClearBridge Investments Ltd raised its holdings in shares of Crown Castle by 19.4% in the 1st quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock worth $278,635,000 after purchasing an additional 428,597 shares during the period. Finally, Cooke & Bieler LP lifted its stake in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 2.3 %

Shares of NYSE:CCI opened at $108.91 on Friday. The firm has a market cap of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. The company has a fifty day simple moving average of $114.05 and a 200 day simple moving average of $105.43. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $87.38 and a 12-month high of $120.92.

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

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Jefferies Financial Group raised their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Wells Fargo & Company increased their price target on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada boosted their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 25th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price 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.