Fifth Third Wealth Advisors LLC Has $628,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Fifth Third Wealth Advisors LLC grew its position in shares of Crown Castle Inc. (NYSE:CCI) by 46.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,293 shares of the real estate investment trust’s stock after buying an additional 1,674 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Crown Castle were worth $628,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Legal & General Group Plc grew its position in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after acquiring an additional 67,072 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after purchasing an additional 391,127 shares during the last quarter. Cooke & Bieler LP grew its holdings in shares of Crown Castle by 95.8% during the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after purchasing an additional 1,261,536 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Crown Castle by 4,097.8% in 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 buying an additional 2,464,094 shares in the last quarter. Finally, M&G PLC lifted its position in Crown Castle by 1.0% during the 3rd quarter. M&G PLC now owns 2,180,221 shares of the real estate investment trust’s stock worth $259,446,000 after buying an additional 21,843 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of several research reports. JPMorgan Chase & Co. raised their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $104.38 on Thursday. The company has a market capitalization of $45.36 billion, a price-to-earnings ratio of 37.01 and a beta of 0.86. The firm’s 50 day simple moving average is $111.16 and its 200 day simple moving average is $106.70. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last posted its 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 6.00%. Crown Castle’s payout ratio is 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.