Crown Castle Inc. $CCI Stake Lifted by Bogart Wealth LLC

Bogart Wealth LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 55.5% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 339 shares of the real estate investment trust’s stock after purchasing an additional 121 shares during the period. Bogart Wealth LLC’s holdings in Crown Castle were worth $35,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Iron Horse Wealth Management LLC bought a new position in shares of Crown Castle during the first quarter worth about $26,000. Centerpoint Advisors LLC acquired a new position in Crown Castle during the 1st quarter valued at about $26,000. Stone House Investment Management LLC bought a new position in Crown Castle in the 1st quarter worth about $27,000. Rise Advisors LLC bought a new position in Crown Castle in the 1st quarter worth about $28,000. Finally, WPG Advisers LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $33,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of recent analyst reports. Raymond James Financial reissued a “strong-buy” rating and issued a $124.00 price objective (up from $122.00) on shares of Crown Castle in a report on Thursday, July 24th. Barclays boosted their price target on Crown Castle from $119.00 to $120.00 and gave the stock an “overweight” rating in a research report on Monday, September 15th. KeyCorp lowered their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a report on Wednesday, September 17th. JPMorgan Chase & Co. upped their price objective on shares of Crown Castle from $115.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Finally, Wolfe Research upgraded shares of Crown Castle from a “peer perform” rating to an “outperform” rating and set a $114.00 target price for the company in a research report on Monday, September 22nd. Three analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $113.44.

Crown Castle Price Performance

NYSE CCI opened at $98.73 on Wednesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $115.76. The company has a market capitalization of $43.00 billion, a P/E ratio of -9.25, a PEG ratio of 0.75 and a beta of 0.95. The company’s 50 day simple moving average is $97.23 and its 200 day simple moving average is $100.57.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 earnings per share. On average, analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were given a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.3%. Crown Castle’s dividend payout ratio (DPR) is -39.83%.

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.