Graypoint LLC Trims Stake in Crown Castle Inc. (NYSE:CCI)

Graypoint LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 5.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,085 shares of the real estate investment trust’s stock after selling 191 shares during the quarter. Graypoint LLC’s holdings in Crown Castle were worth $366,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the 3rd quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth about $27,000. Asset Dedication LLC grew its holdings 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 buying an additional 167 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wells Fargo & Company boosted 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. Jefferies Financial Group upped their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. The Goldman Sachs Group increased their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. BMO Capital Markets lifted their price target on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Finally, Royal Bank of Canada increased their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Stock Up 1.6 %

Shares of Crown Castle stock opened at $105.88 on Friday. The company has a fifty day moving average price of $113.12 and a 200 day moving average price of $106.15. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The stock has a market cap of $46.02 billion, a price-to-earnings ratio of 37.55 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 EPS. Equities research analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.91%. Crown Castle’s payout ratio is currently 221.99%.

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.