Vinva Investment Management Ltd Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Vinva Investment Management Ltd boosted its stake in Crown Castle Inc. (NYSE:CCI) by 12.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 19,932 shares of the real estate investment trust’s stock after acquiring an additional 2,193 shares during the period. Vinva Investment Management Ltd’s holdings in Crown Castle were worth $2,324,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Crown Castle by 433.8% in 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 valued at $470,838,000 after buying an additional 3,225,460 shares during the period. Daiwa Securities Group Inc. increased its stake in Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock worth $246,617,000 after purchasing an additional 2,464,094 shares during the period. Bank of Montreal Can increased its stake in 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 during the period. Cooke & Bieler LP increased its stake in Crown Castle by 95.8% during the second 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 period. Finally, International Assets Investment Management LLC increased its stake in Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $106.70 on Friday. The stock has a 50 day moving average price of $109.66 and a 200 day moving average price of $106.98. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $46.37 billion, a price-to-earnings ratio of 37.84 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.

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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The business 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the company earned $1.77 earnings per share. Research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 5.87%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their price target on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Barclays boosted their price target on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.87.

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.