Fiduciary Trust Co Has $970,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Fiduciary Trust Co raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,180 shares of the real estate investment trust’s stock after purchasing an additional 1,113 shares during the period. Fiduciary Trust Co’s holdings in Crown Castle were worth $970,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Legal & General Group Plc boosted its position in shares of Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after buying an additional 67,072 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Crown Castle by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock worth $593,498,000 after acquiring an additional 237,730 shares in the last quarter. National Bank of Canada FI raised its holdings in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after purchasing an additional 391,127 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Down 0.4 %

Shares of CCI stock opened at $106.25 on Friday. The stock has a market capitalization of $46.18 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86. The company’s fifty day simple moving average is $109.48 and its two-hundred day simple moving average is $107.02. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick 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 earnings per share (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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the previous year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Ratings Changes

CCI has been the topic of a number of research analyst reports. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Royal Bank of Canada increased their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Finally, The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and an average 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.