State of Alaska Department of Revenue Acquires 705 Shares of Crown Castle Inc. (NYSE:CCI)

State of Alaska Department of Revenue grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 258,212 shares of the real estate investment trust’s stock after buying an additional 705 shares during the period. State of Alaska Department of Revenue’s holdings in Crown Castle were worth $30,630,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. BOKF NA boosted its stake in Crown Castle by 25.6% during the first 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 in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after purchasing an additional 8,136 shares during the period. O Shaughnessy Asset Management LLC boosted its position in shares of Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares in the last quarter. Norden Group LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at about $1,804,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Crown Castle by 21.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock valued at $54,816,000 after buying an additional 91,404 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 2.3 %

Shares of CCI stock opened at $108.91 on Friday. Crown Castle Inc. has a 52-week low of $87.38 and a 52-week high of $120.92. The company has a market capitalization of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The business’s fifty day moving average is $114.05 and its 200 day moving average is $105.43.

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 the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm earned $1.77 EPS. The company’s revenue was down .9% on a year-over-year basis. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.75%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is 221.99%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCI. Bank of America increased 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. Wells Fargo & Company increased their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus target price of $116.47.

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.