Crown Castle Inc. (NYSE:CCI) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Crown Castle Inc. (NYSE:CCI) by 0.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 262,056 shares of the real estate investment trust’s stock after buying an additional 1,377 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crown Castle were worth $31,088,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Providence Capital Advisors LLC increased its holdings in Crown Castle by 1.3% during the 3rd quarter. Providence Capital Advisors LLC now owns 22,518 shares of the real estate investment trust’s stock worth $2,671,000 after purchasing an additional 283 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Crown Castle by 0.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 833,833 shares of the real estate investment trust’s stock worth $98,918,000 after acquiring an additional 2,833 shares in the last quarter. Townsquare Capital LLC raised its stake in shares of Crown Castle by 25.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 1,203 shares in the last quarter. Avestar Capital LLC raised its stake in Crown Castle by 14.9% during the third quarter. Avestar Capital LLC now owns 2,786 shares of the real estate investment trust’s stock valued at $331,000 after buying an additional 361 shares in the last quarter. Finally, Brooklyn Investment Group raised its stake in Crown Castle by 95.5% during the third quarter. Brooklyn Investment Group now owns 3,880 shares of the real estate investment trust’s stock valued at $460,000 after buying an additional 1,895 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on CCI. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Jefferies Financial Group raised their target price on Crown Castle from $123.00 to $127.00 and gave the company 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 report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Up 0.4 %

CCI stock opened at $106.70 on Friday. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year 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 business’s 50 day moving average is $109.66 and its 200-day moving average is $106.98. The firm has a market cap of $46.37 billion, a P/E ratio of 37.84 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 EPS. Equities analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared 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 yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.