Great Valley Advisor Group Inc. Takes $363,000 Position in Crown Castle Inc. (NYSE:CCI)

Great Valley Advisor Group Inc. purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 3,056 shares of the real estate investment trust’s stock, valued at approximately $363,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the third quarter worth approximately $25,000. Asset Dedication LLC boosted its holdings in 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 during the last quarter. Beacon Capital Management LLC boosted its holdings in 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 worth $30,000 after purchasing an additional 177 shares during the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in Crown Castle in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Finally, TD Cowen dropped their price target 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. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $106.69 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $46.37 billion, a P/E ratio of 37.83 and a beta of 0.86. The firm’s fifty day moving average is $109.83 and its two-hundred day moving average is $106.98. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

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

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 yield of 5.87%. Crown Castle’s dividend payout ratio is currently 221.99%.

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.