Crown Castle Inc. (NYSE:CCI) Position Raised by Napa Wealth Management

Napa Wealth Management lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,765 shares of the real estate investment trust’s stock after acquiring an additional 122 shares during the period. Napa Wealth Management’s holdings in Crown Castle were worth $328,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Quent Capital LLC grew its position in Crown Castle by 10.9% in the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 231 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares in the last quarter. Clearbridge Investments LLC increased its position in Crown Castle by 15.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,038 shares of the real estate investment trust’s stock valued at $322,000 after acquiring an additional 416 shares during the period. Bessemer Group Inc. raised its stake in Crown Castle by 245.6% during the 1st quarter. Bessemer Group Inc. now owns 42,371 shares of the real estate investment trust’s stock valued at $4,484,000 after acquiring an additional 30,111 shares in the last quarter. Finally, Lake Street Advisors Group LLC boosted its position in Crown Castle by 40.3% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,365 shares of the real estate investment trust’s stock worth $356,000 after acquiring an additional 966 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CCI shares. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Barclays increased their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price target on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Trading Down 0.2 %

NYSE:CCI opened at $103.60 on Monday. The stock has a fifty day simple moving average of $112.05 and a 200 day simple moving average of $106.61. 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 firm has a market capitalization of $45.02 billion, a price-to-earnings ratio of 36.81 and a beta of 0.86. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.04%. Crown Castle’s payout ratio is currently 221.99%.

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.