Crown Castle Inc. $CCI Stock Position Increased by Aberdeen Group plc

Aberdeen Group plc raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,113,770 shares of the real estate investment trust’s stock after acquiring an additional 59,644 shares during the period. Aberdeen Group plc’s holdings in Crown Castle were worth $74,233,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Front Row Advisors LLC grew its stake in shares of Crown Castle by 1.4% in the first quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 130 shares in the last quarter. Linscomb Wealth Inc. raised its stake in shares of Crown Castle by 0.3% during the second quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust’s stock valued at $4,052,000 after purchasing an additional 145 shares in the last quarter. NBH Bank raised its stake in shares of Crown Castle by 19.4% during the third quarter. NBH Bank now owns 892 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 145 shares in the last quarter. Everhart Financial Group Inc. raised its stake in shares of Crown Castle by 2.7% during the second quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust’s stock valued at $443,000 after purchasing an additional 153 shares in the last quarter. Finally, Mirador Capital Partners LP lifted its holdings in Crown Castle by 2.1% in the third quarter. Mirador Capital Partners LP now owns 8,512 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 177 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3%

Shares of CCI traded up $1.17 during trading hours on Friday, reaching $90.86. The company’s stock had a trading volume of 3,041,760 shares, compared to its average volume of 5,607,192. The firm has a market cap of $38.66 billion, a price-to-earnings ratio of 47.82, a P/E/G ratio of 0.78 and a beta of 0.88. Crown Castle Inc. has a 1-year low of $65.32 and a 1-year high of $95.07. The company has a 50 day moving average of $78.44 and a two-hundred day moving average of $82.33.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The company had revenue of $995.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The firm’s quarterly revenue was down 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.12 EPS. As a group, analysts forecast that Crown Castle Inc. will post 4.42 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Tuesday, December 15th. Crown Castle’s dividend payout ratio (DPR) is currently 223.68%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Crown Castle from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $85.00 to $80.00 in a research note on Monday, September 14th. BMO Capital Markets decreased their price objective on shares of Crown Castle to $93.00 and set an “outperform” rating for the company in a report on Monday, October 19th. Citizens Jmp lowered their price objective on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research note on Friday, July 24th. Citigroup reissued a “market outperform” rating on shares of Crown Castle in a report on Thursday, October 22nd. Finally, Weiss Ratings raised Crown Castle from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, October 26th. Two investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Insider Activity

In other Crown Castle news, VP Robert Collins sold 2,500 shares of the business’s stock in a transaction dated Friday, November 6th. The stock was sold at an average price of $88.87, for a total value of $222,175.00. Following the transaction, the vice president owned 2,613 shares in the company, valued at $232,217.31. The trade was a 48.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.09% of the company’s stock.

Crown Castle Company Profile

Crown Castle Inc. (NYSE: CCI) owns and operates wireless communications infrastructure in the United States. Its portfolio includes cell towers and small-cell networks that help wireless carriers expand coverage and capacity. The company leases space on its infrastructure to wireless carriers and other customers, allowing multiple users to deploy communications equipment on shared sites. Crown Castle has also operated fiber infrastructure and related services, which support small-cell networks and other connectivity needs.