Czech National Bank Increases Holdings in Crown Castle Inc. (NYSE:CCI)

Czech National Bank lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 6.4% in the fourth quarter, Holdings Channel reports. The fund owned 94,230 shares of the real estate investment trust’s stock after purchasing an additional 5,705 shares during the quarter. Czech National Bank’s holdings in Crown Castle were worth $8,552,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the third quarter valued at approximately $25,000. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Quest Partners LLC raised its holdings in Crown Castle by 3,672.7% during the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after buying an additional 404 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Crown Castle in the third quarter worth $47,000. Finally, Friedenthal Financial purchased a new position in Crown Castle during the third quarter worth $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI opened at $86.65 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The business’s fifty day simple moving average is $97.57 and its 200-day simple moving average is $105.81. The company has a market capitalization of $37.66 billion, a price-to-earnings ratio of 30.73 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month 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 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the business posted $1.77 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 7.22%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CCI shares. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $117.00 to $104.00 in a research note on Monday. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup set a $128.00 price target on Crown Castle in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $113.00.

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.