Quest Partners LLC Buys 12,913 Shares of Crown Castle Inc. (NYSE:CCI)

Quest Partners LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 3,111.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,328 shares of the real estate investment trust’s stock after purchasing an additional 12,913 shares during the period. Quest Partners LLC’s holdings in Crown Castle were worth $1,581,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth about $25,000. EntryPoint Capital LLC bought a new position in Crown Castle during the first quarter worth about $27,000. Asset Dedication LLC increased its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC raised its position in shares of Crown Castle by 163.9% in the first 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. Finally, Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

CCI stock opened at $104.59 on Tuesday. The firm has a market cap of $45.45 billion, a P/E ratio of 37.09 and a beta of 0.86. The firm’s fifty day moving average is $111.79 and its 200 day moving average is $106.67. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. 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 (NYSE:CCI) last released its quarterly earnings data 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). The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 EPS. Research analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company 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. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is 221.99%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group increased their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target 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. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. Wells Fargo & Company increased their target price on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Finally, TD Cowen cut their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.