Prime Capital Investment Advisors LLC Has $880,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

Prime Capital Investment Advisors LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 10.0% in the 3rd quarter, Holdings Channel reports. The firm owned 7,419 shares of the real estate investment trust’s stock after buying an additional 673 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Crown Castle were worth $880,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after buying an additional 91 shares in the last quarter. Prosperity Consulting Group LLC raised its position in Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares during the last quarter. True North Advisors LLC boosted its position in Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC raised its holdings in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCI shares. UBS Group increased their price objective 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. Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Barclays upped their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. TD Cowen decreased their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Stock Performance

NYSE:CCI opened at $103.80 on Friday. The stock has a 50 day simple moving average of $112.29 and a 200 day simple moving average of $106.38. The stock has a market cap of $45.11 billion, a P/E ratio of 36.62 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 current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 firm 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 quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.77 EPS. Research analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

About Crown Castle

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.