425 Shares in Crown Castle Inc. (NYSE:CCI) Purchased by Friedenthal Financial

Friedenthal Financial purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 425 shares of the real estate investment trust’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $27,000. Asset Dedication LLC grew its stake in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the period. ORG Partners LLC purchased a new stake in shares of Crown Castle in the second quarter worth approximately $34,000. Finally, New Millennium Group LLC acquired a new stake in shares of Crown Castle during the second quarter worth approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several research reports. JPMorgan Chase & Co. upped 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. Royal Bank of Canada boosted their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets increased their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $116.47.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.39% of the stock is currently owned by corporate insiders.

Crown Castle Stock Up 0.6 %

Shares of CCI stock opened at $112.45 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The firm has a market cap of $48.87 billion, a PE ratio of 41.19 and a beta of 0.85. The stock has a 50 day moving average of $114.03 and a 200-day moving average of $105.10. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the company posted $1.77 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.57%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is presently 229.30%.

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.