Brooklyn Investment Group Grows Stake in Crown Castle Inc. (NYSE:CCI)

Brooklyn Investment Group grew its holdings in Crown Castle Inc. (NYSE:CCI) by 95.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 3,880 shares of the real estate investment trust’s stock after acquiring an additional 1,895 shares during the quarter. Brooklyn Investment Group’s holdings in Crown Castle were worth $460,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle in the 3rd quarter valued at about $25,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at about $27,000. Asset Dedication LLC increased its holdings in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC grew its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. Finally, Rosenberg Matthew Hamilton grew its stake in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCI. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Jefferies Financial Group raised their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Performance

Shares of CCI stock opened at $106.30 on Wednesday. The stock has a fifty day moving average price of $110.06 and a 200 day moving average price of $106.98. The stock has a market cap of $46.20 billion, a PE ratio of 37.69 and a beta of 0.86. 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 quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share 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 analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business 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 dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.89%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s payout ratio is 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.