Lmcg Investments LLC Purchases New Holdings in Crown Castle Inc. (NYSE:CCI)

Lmcg Investments LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,728 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Other hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC lifted its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its position in shares of 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 valued at $30,000 after buying an additional 177 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in shares of Crown Castle in the second quarter valued at approximately $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock opened at $106.58 on Friday. The stock’s fifty day moving average price is $113.78 and its two-hundred day moving average price is $105.82. Crown Castle Inc. has a one year low of $92.48 and a one 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 0.43. The firm has a market cap of $46.32 billion, a PE ratio of 37.79 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the business earned $1.77 EPS. Crown Castle’s revenue was down .9% on a year-over-year basis. As a group, research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent analyst reports. TD Cowen cut 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. Wells Fargo & Company lifted their price target on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Bank of America lifted their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Company 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.