Joel Isaacson & Co. LLC Invests $232,000 in Crown Castle Inc. (NYSE:CCI)

Joel Isaacson & Co. LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the third quarter, HoldingsChannel reports. The fund acquired 1,959 shares of the real estate investment trust’s stock, valued at approximately $232,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Daiwa Securities Group Inc. grew its holdings in shares of Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after purchasing an additional 2,464,094 shares during the last quarter. M&G Plc acquired a new stake in Crown Castle in the first quarter worth $221,573,000. Bank of Montreal Can increased its position in Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after buying an additional 1,335,644 shares during the period. Cooke & Bieler LP lifted its stake in Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after buying an additional 1,261,536 shares during the last quarter. Finally, Capital International Investors boosted its holdings in shares of Crown Castle by 68,262.1% during the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after acquiring an additional 1,238,274 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 2.3 %

CCI stock opened at $108.91 on Friday. The firm has a market cap of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. Crown Castle Inc. has a 12 month low of $87.38 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm has a 50 day simple moving average of $114.05 and a 200 day simple moving average of $105.43.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the company posted $1.77 EPS. Equities research analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Bank of America increased their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. BMO Capital Markets lifted their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Finally, Jefferies Financial Group increased 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. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Crown Castle presently 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.