SteelPeak Wealth LLC Buys 7,647 Shares of Crown Castle Inc. (NYSE:CCI)

SteelPeak Wealth LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 239.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,840 shares of the real estate investment trust’s stock after purchasing an additional 7,647 shares during the period. SteelPeak Wealth LLC’s holdings in Crown Castle were worth $1,286,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its position in shares of Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. M&G Plc bought a new position in Crown Castle during the first quarter valued at $221,573,000. Bank of Montreal Can lifted its position in Crown Castle by 191.7% during the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after purchasing an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP grew 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 worth $251,962,000 after buying an additional 1,261,536 shares in the last quarter. Finally, Capital International Investors increased its holdings in shares of Crown Castle by 68,262.1% in the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after buying an additional 1,238,274 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $107.81 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The company has a market capitalization of $46.85 billion, a PE ratio of 38.23 and a beta of 0.85. The company has a 50 day moving average price of $113.93 and a 200-day moving average price of $105.65. Crown Castle Inc. has a fifty-two week low of $90.81 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last issued its earnings results 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm earned $1.77 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The firm 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 annualized dividend and a yield of 5.81%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Barclays lifted their price target on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. BMO Capital Markets lifted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.80.

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.