Crown Castle Inc. (NYSE:CCI) Shares Purchased by Fisher Asset Management LLC

Fisher Asset Management LLC raised its stake in Crown Castle Inc. (NYSE:CCI) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,088,017 shares of the real estate investment trust’s stock after purchasing an additional 203,442 shares during the period. Fisher Asset Management LLC owned 1.17% of Crown Castle worth $603,592,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legal & General Group Plc raised its holdings in shares of Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Crown Castle by 5.0% in 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 position in Crown Castle by 10.7% in the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after purchasing an additional 391,127 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Crown Castle by 25.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares during the period. Finally, Cooke & Bieler LP grew its position in Crown Castle by 95.8% in 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 purchasing an additional 1,261,536 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CCI shares. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. raised their price objective 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. 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. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.87.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $105.44 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a fifty day simple moving average of $110.60 and a 200-day simple moving average of $106.89. The stock has a market capitalization of $45.82 billion, a price-to-earnings ratio of 37.39 and a beta of 0.86. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92.

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 analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.94%. The ex-dividend date of this dividend 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.