Brooklyn Investment Group Boosts Holdings in Crown Castle Inc. (NYSE:CCI)

Brooklyn Investment Group raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,497 shares of the real estate investment trust’s stock after acquiring an additional 617 shares during the period. Brooklyn Investment Group’s holdings in Crown Castle were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in CCI. State Street Corp raised its position in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after buying an additional 151,990 shares during the period. Legal & General Group Plc lifted its stake in shares of Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after acquiring an additional 67,072 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after acquiring an additional 348,296 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $91.03 on Friday. 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 cap of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The business’s fifty day simple moving average is $96.96 and its 200-day simple moving average is $105.57.

Crown Castle (NYSE:CCI) last released its quarterly earnings results 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 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average target price of $113.00.

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.