Hengehold Capital Management LLC Purchases 1,171 Shares of Crown Castle Inc. (NYSE:CCI)

Hengehold Capital Management LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 31,374 shares of the real estate investment trust’s stock after buying an additional 1,171 shares during the quarter. Hengehold Capital Management LLC’s holdings in Crown Castle were worth $3,722,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the first quarter valued at approximately $27,000. Asset Dedication LLC grew its stake in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC increased its position in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Crown Castle during the 2nd quarter worth $34,000. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle in the 2nd quarter worth about $34,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.4 %

Shares of NYSE CCI opened at $116.20 on Thursday. The business has a 50-day moving average of $113.98 and a 200-day moving average of $105.00. The firm has a market capitalization of $50.50 billion, a price-to-earnings ratio of 42.41 and a beta of 0.85. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $120.92. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $1.77 earnings per share. Sell-side analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.39%. Crown Castle’s dividend payout ratio (DPR) is currently 229.30%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Bank of America raised their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. BMO Capital Markets increased their price target on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. TD Cowen lowered their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday. Finally, The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $115.57.

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.39% of the stock is owned by insiders.

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.