TrinityPoint Wealth LLC Buys New Shares in Crown Castle Inc. (NYSE:CCI)

TrinityPoint Wealth LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,149 shares of the real estate investment trust’s stock, valued at approximately $255,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Van ECK Associates Corp grew its stake in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. BOKF NA increased its stake in shares of Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 815 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after purchasing an additional 8,346 shares during the period. OLD National Bancorp IN lifted its stake in shares of Crown Castle by 23.8% during the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after buying an additional 17,529 shares in the last quarter. Finally, Kennebec Savings Bank bought a new position in Crown Castle in the 3rd quarter worth $633,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. TD Cowen cut their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Trading Up 0.8 %

CCI opened at $104.59 on Tuesday. The firm has a market cap of $45.45 billion, a P/E ratio of 37.09 and a beta of 0.86. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The stock has a 50-day moving average of $111.79 and a 200 day moving average of $106.67. 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 (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. As a group, research analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.99%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Crown Castle 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.