Peapack Gladstone Financial Corp Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Peapack Gladstone Financial Corp grew its position in Crown Castle Inc. (NYSE:CCI) by 0.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 68,854 shares of the real estate investment trust’s stock after buying an additional 202 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Crown Castle were worth $8,167,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the 3rd quarter valued at about $25,000. Asset Dedication LLC grew its holdings in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the period. ORG Partners LLC acquired a new stake in Crown Castle during the 2nd quarter worth approximately $34,000. Finally, New Millennium Group LLC acquired a new stake in Crown Castle during the 2nd quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. Barclays upped their price objective 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. Citigroup set a $128.00 price target on Crown Castle in a report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company cut shares of Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $105.00 to $100.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $116.53.

Crown Castle Stock Down 0.1 %

Shares of NYSE:CCI opened at $97.10 on Friday. The firm has a 50 day simple moving average of $106.57 and a 200-day simple moving average of $107.08. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. 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 company has a market capitalization of $42.20 billion, a PE ratio of 34.43 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the firm earned $1.77 earnings per share. Crown Castle’s revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

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 given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.45%. Crown Castle’s dividend payout ratio (DPR) is presently 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.