Pointe Capital Management LLC Buys Shares of 1,791 Crown Castle Inc. (NYSE:CCI)

by · The Markets Daily

Pointe Capital Management LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,791 shares of the real estate investment trust’s stock, valued at approximately $212,000.

A number of other institutional investors also recently modified their holdings of CCI. Register Financial Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at approximately $48,000. SteelPeak Wealth LLC lifted its stake in shares of Crown Castle by 239.4% during the 1st quarter. SteelPeak Wealth LLC now owns 9,433 shares of the real estate investment trust’s stock valued at $998,000 after buying an additional 6,654 shares in the last quarter. Mirador Capital Partners LP purchased a new stake in shares of Crown Castle during the 1st quarter valued at approximately $265,000. Kowal Investment Group LLC lifted its stake in shares of Crown Castle by 27.4% during the 1st quarter. Kowal Investment Group LLC now owns 3,776 shares of the real estate investment trust’s stock valued at $400,000 after buying an additional 813 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its stake in shares of Crown Castle by 24.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 1,398 shares of the real estate investment trust’s stock valued at $148,000 after buying an additional 273 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the topic of several recent analyst reports. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Company upped their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $116.47.

Check Out Our Latest Research Report on CCI

Crown Castle Price Performance

Shares of CCI traded down $2.54 during midday trading on Friday, reaching $108.91. The stock had a trading volume of 1,873,838 shares, compared to its average volume of 2,637,974. The company’s 50-day moving average is $114.05 and its 200 day moving average is $105.43. Crown Castle Inc. has a 12-month low of $87.38 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $47.33 billion, a price-to-earnings ratio of 38.62 and a beta of 0.85.

Crown Castle (NYSE:CCI – Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for 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%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Crown Castle Profile

(Free Report)

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.

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