Crown Castle Inc. (NYSE:CCI) Shares Acquired by Malaga Cove Capital LLC

Malaga Cove Capital LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,546 shares of the real estate investment trust’s stock after acquiring an additional 100 shares during the period. Malaga Cove Capital LLC’s holdings in Crown Castle were worth $658,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter valued at $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter valued at about $27,000. Asset Dedication LLC increased its position 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 worth $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC increased its position 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 worth $30,000 after acquiring an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CCI. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Bank of America increased their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. UBS Group boosted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Barclays increased their price target on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Stock Down 4.8 %

Crown Castle stock opened at $103.46 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The company has a 50-day simple moving average of $113.39 and a 200-day simple moving average of $106.09. The firm has a market capitalization of $44.96 billion, a P/E ratio of 36.69 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced 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). The firm had revenue of $1.65 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Company Profile

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.