Lyell Wealth Management LP Boosts Holdings in Crown Castle Inc. (NYSE:CCI)

Lyell Wealth Management LP increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,341 shares of the real estate investment trust’s stock after buying an additional 2,743 shares during the period. Lyell Wealth Management LP’s holdings in Crown Castle were worth $4,786,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Crown Castle by 1.2% during the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after buying an additional 673,243 shares during the last quarter. Legal & General Group Plc increased its holdings in 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 worth $603,518,000 after buying an additional 67,072 shares during the last quarter. National Bank of Canada FI increased its holdings in 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 worth $387,333,000 after buying an additional 391,127 shares during the last quarter. ClearBridge Investments Ltd increased its holdings in Crown Castle by 19.4% during the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock worth $278,635,000 after buying an additional 428,597 shares during the last quarter. Finally, Cooke & Bieler LP increased its holdings 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 buying an additional 1,261,536 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several recent research reports. Barclays lifted their target price on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. BMO Capital Markets lifted their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. UBS Group lifted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted their target price 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. Finally, Bank of America lifted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $116.47.

Crown Castle Trading Down 2.3 %

Shares of Crown Castle stock opened at $108.91 on Friday. Crown Castle Inc. has a 1 year low of $87.38 and a 1 year high of $120.92. The firm has a market cap of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The company has a 50 day simple moving average of $114.06 and a two-hundred day simple moving average of $105.34.

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 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 earned $1.77 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

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