Crown Castle Inc. (NYSE:CCI) Holdings Increased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in Crown Castle Inc. (NYSE:CCI) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,105,151 shares of the real estate investment trust’s stock after acquiring an additional 151,990 shares during the period. Geode Capital Management LLC’s holdings in Crown Castle were worth $1,434,229,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sequoia Financial Advisors LLC lifted its holdings in shares of Crown Castle by 12.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,013 shares of the real estate investment trust’s stock valued at $783,000 after buying an additional 909 shares during the period. Wedmont Private Capital bought a new position in shares of Crown Castle during the 2nd quarter valued at about $218,000. ORG Partners LLC acquired a new position in shares of Crown Castle in the 2nd quarter worth approximately $34,000. Abundance Wealth Counselors raised its holdings in shares of Crown Castle by 22.6% in the 2nd quarter. Abundance Wealth Counselors now owns 9,460 shares of the real estate investment trust’s stock worth $924,000 after purchasing an additional 1,741 shares in the last quarter. Finally, Vanderbilt University lifted its stake in Crown Castle by 9.7% during the second quarter. Vanderbilt University now owns 29,983 shares of the real estate investment trust’s stock valued at $2,929,000 after purchasing an additional 2,648 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $100.60 on Wednesday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The business’s 50-day moving average price is $107.87 and its two-hundred day moving average price is $107.18. The company has a market capitalization of $43.72 billion, a P/E ratio of 35.67 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 EPS. Analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.22%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

Analyst Ratings Changes

Several research analysts have issued reports on CCI shares. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $105.00 to $100.00 in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $116.53.

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.