Swedbank AB Grows Position in Crown Castle Inc. (NYSE:CCI)

Swedbank AB increased its position in Crown Castle Inc. (NYSE:CCI) by 0.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,150 shares of the real estate investment trust’s stock after purchasing an additional 898 shares during the period. Swedbank AB owned 0.06% of Crown Castle worth $29,438,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. boosted its holdings in shares of Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after buying an additional 2,464,094 shares in the last quarter. Bank of Montreal Can boosted its stake in Crown Castle by 191.7% during the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after acquiring an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP boosted its stake in Crown Castle by 95.8% during the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after acquiring an additional 1,261,536 shares in the last quarter. International Assets Investment Management LLC increased its stake in shares of Crown Castle by 13,271.6% during the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after purchasing an additional 965,907 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of Crown Castle by 10.7% during 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. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE CCI opened at $106.08 on Tuesday. 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 Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The stock has a market capitalization of $46.10 billion, a price-to-earnings ratio of 37.62 and a beta of 0.86. The business’s fifty day moving average price is $110.32 and its 200-day moving average price is $106.94.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (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 analysts’ expectations of $1.64 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.90%. Crown Castle’s payout ratio is presently 221.99%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. 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 report on Thursday, October 17th. Citigroup set a $128.00 price target on Crown Castle in a report on Thursday, October 17th. The Goldman Sachs Group upped 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. Wells Fargo & Company raised their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Twelve equities 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 company currently has a consensus 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.