Crown Castle Inc. (NYSE:CCI) Shares Bought by Linscomb Wealth Inc.

Linscomb Wealth Inc. lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 0.6% during the third quarter, Holdings Channel reports. The institutional investor owned 54,605 shares of the real estate investment trust’s stock after purchasing an additional 338 shares during the quarter. Linscomb Wealth Inc.’s holdings in Crown Castle were worth $6,478,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CCI. Daiwa Securities Group Inc. grew its holdings in 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 buying an additional 2,464,094 shares during the last quarter. M&G Plc purchased a new position in shares of Crown Castle in the 1st quarter valued at $221,573,000. Bank of Montreal Can lifted its stake in shares of 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 worth $195,183,000 after purchasing an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP lifted its position in Crown Castle by 95.8% during 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 acquiring an additional 1,261,536 shares in the last quarter. Finally, Capital International Investors boosted its stake in shares of Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after purchasing an additional 1,238,274 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.6 %

Shares of NYSE:CCI traded up $0.64 during midday trading on Friday, hitting $103.56. 669,358 shares of the stock were exchanged, compared to its average volume of 2,596,561. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The business’s fifty day simple moving average is $112.29 and its two-hundred day simple moving average is $106.38. The company has a market capitalization of $45.01 billion, a PE ratio of 36.62 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 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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the business earned $1.77 earnings per share. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Ratings Changes

A number of research firms have recently weighed in on CCI. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Barclays increased their price target on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. TD Cowen reduced their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Twelve 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, Crown Castle has a consensus rating of “Hold” and a consensus price target of $116.87.

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.