Kolinsky Wealth Management LLC Purchases Shares of 2,247 Crown Castle Inc. (NYSE:CCI)

Kolinsky Wealth Management LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,247 shares of the real estate investment trust’s stock, valued at approximately $267,000.

A number of other hedge funds have also recently bought and sold shares of the stock. Legal & General Group Plc boosted its holdings in Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after purchasing an additional 67,072 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Crown Castle by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock worth $593,498,000 after acquiring an additional 237,730 shares during the period. National Bank of Canada FI lifted its holdings in shares of Crown Castle by 10.7% during the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after acquiring an additional 391,127 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Crown Castle by 433.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after acquiring an additional 3,225,460 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price 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. The Goldman Sachs Group increased their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. 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 research report on Tuesday, August 13th. Barclays raised their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group raised their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Down 0.4 %

Shares of NYSE CCI opened at $106.25 on Friday. The stock has a market cap of $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a 50 day moving average price of $109.48 and a 200 day moving average price of $107.02.

Crown Castle (NYSE:CCI) last released its quarterly 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 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%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $1.77 EPS. Analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 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.