D.A. Davidson & CO. Has $2.43 Million Stake in Crown Castle Inc. (NYSE:CCI)

D.A. Davidson & CO. boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,478 shares of the real estate investment trust’s stock after buying an additional 960 shares during the period. D.A. Davidson & CO.’s holdings in Crown Castle were worth $2,429,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle in the 3rd quarter worth $25,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% during the 2nd 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 during the period. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Crown Castle in the 2nd quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new position in Crown Castle during the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on CCI. Bank of America increased 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. 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. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, 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 note on Thursday, September 26th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average target price of $116.87.

Crown Castle Stock Down 0.4 %

Shares of CCI stock opened at $106.25 on Friday. The firm’s fifty day moving average price is $109.48 and its two-hundred day moving average price is $107.02. 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 1 year low of $92.48 and a 1 year high of $120.92. The firm has a market capitalization of $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) 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 return on equity of 20.98% and a net margin of 18.59%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.66 EPS 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. Investors of record on Friday, December 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. Crown Castle’s payout ratio is 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.