Asset Management One Co. Ltd. Boosts Stake in Crown Castle Inc. (NYSE:CCI)

Asset Management One Co. Ltd. raised its position in Crown Castle Inc. (NYSE:CCI) by 6.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,506 shares of the real estate investment trust’s stock after purchasing an additional 11,328 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Crown Castle were worth $21,769,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new position in Crown Castle in the 1st quarter valued at about $27,000. 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. Asset Dedication LLC lifted its holdings 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 worth $27,000 after buying an additional 167 shares in the last quarter. Beacon Capital Management LLC boosted its position in 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 buying an additional 177 shares during the period. Finally, New Millennium Group LLC acquired a new position in shares of Crown Castle in the second quarter worth $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.3 %

CCI opened at $108.71 on Wednesday. The stock has a market capitalization of $47.25 billion, a P/E ratio of 38.55 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The business’s 50-day simple moving average is $113.59 and its 200-day simple moving average is $106.11.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.77 EPS. Analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. BMO Capital Markets increased their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays upped their target price 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. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, UBS Group increased their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Twelve 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, Crown Castle presently has an average rating of “Hold” and an average 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.