Summit Trail Advisors LLC Acquires 769 Shares of Crown Castle Inc. (NYSE:CCI)

Summit Trail Advisors LLC increased its holdings in Crown Castle Inc. (NYSE:CCI) by 15.6% in the third quarter, Holdings Channel reports. The institutional investor owned 5,685 shares of the real estate investment trust’s stock after buying an additional 769 shares during the period. Summit Trail Advisors LLC’s holdings in Crown Castle were worth $674,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Quent Capital LLC increased its position in shares of Crown Castle by 10.9% in the first quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after purchasing an additional 231 shares during the period. EntryPoint Capital LLC bought a new position in Crown Castle in the 1st quarter valued at about $27,000. CreativeOne Wealth LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at approximately $209,000. BOKF NA lifted its holdings in shares of Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after acquiring an additional 815 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Crown Castle by 5.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,783,020 shares of the real estate investment trust’s stock worth $188,698,000 after acquiring an additional 95,711 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Price Performance

CCI stock opened at $106.08 on Tuesday. The company has a market capitalization of $46.10 billion, a P/E ratio of 37.62 and a beta of 0.86. The company has a fifty day moving average price of $110.32 and a 200-day moving average price of $106.94. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. 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 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). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 earnings per share. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.90%. The ex-dividend date of this dividend is Friday, December 13th. 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.