Financial Partners Group LLC Purchases 914 Shares of Crown Castle Inc. (NYSE:CCI)

Financial Partners Group LLC raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,394 shares of the real estate investment trust’s stock after purchasing an additional 914 shares during the period. Crown Castle accounts for approximately 2.8% of Financial Partners Group LLC’s holdings, making the stock its 11th biggest holding. Financial Partners Group LLC’s holdings in Crown Castle were worth $7,520,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CCI. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter worth $27,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the period. Beacon Capital Management LLC increased its stake in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. New Millennium Group LLC acquired a new stake in shares of Crown Castle in the 2nd quarter valued at approximately $34,000. Finally, ORG Partners LLC bought a new position in Crown Castle during the 2nd quarter worth approximately $34,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Jefferies Financial Group boosted their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. TD Cowen cut 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. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $116.47.

Crown Castle Stock Performance

Shares of CCI opened at $111.42 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $86.49 and a 12 month high of $120.92. The firm has a fifty day simple moving average of $114.02 and a 200 day simple moving average of $105.30. The stock has a market capitalization of $48.42 billion, a price-to-earnings ratio of 39.51 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced 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 company had revenue of $1.65 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business earned $1.77 EPS. Research analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.62%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.