Commerce Bank increased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 9.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 60,372 shares of the real estate investment trust's stock after buying an additional 5,162 shares during the period. Commerce Bank's holdings in Crown Castle were worth $7,162,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the business. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the third quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth approximately $27,000. 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. Beacon Capital Management LLC lifted 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 acquiring an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its stake in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 136 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
CCI opened at $104.61 on Friday. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company's 50-day moving average price is $110.87 and its two-hundred day moving average price is $106.69. The stock has a market cap of $45.47 billion, a price-to-earnings ratio of 37.10 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.
Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the company posted $1.77 EPS. Crown Castle's revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.
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 paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.
CCI has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Royal Bank of Canada upped their target price 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. Bank of America lifted their price target on Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Barclays increased their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their price target on Crown Castle from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $116.87.
Get Our Latest Research Report on 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.
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