Crown Castle Inc. $CCI Stock: Garrison Bradford & Associates Inc. Grows Stake

Garrison Bradford & Associates Inc. lifted its stake in Crown Castle Inc. (NYSE:CCI) by 44.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 38,732 shares of the real estate investment trust’s stock after acquiring an additional 11,852 shares during the period. Crown Castle accounts for approximately 2.9% of Garrison Bradford & Associates Inc.’s holdings, making the stock its 17th biggest position. Garrison Bradford & Associates Inc.’s holdings in Crown Castle were worth $2,581,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Front Row Advisors LLC boosted its holdings in shares of Crown Castle by 1.4% in the first quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 130 shares in the last quarter. Linscomb Wealth Inc. increased its stake in shares of Crown Castle by 0.3% during the second quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust’s stock valued at $4,052,000 after acquiring an additional 145 shares during the period. World Investment Advisors raised its holdings in Crown Castle by 2.0% during the first quarter. World Investment Advisors now owns 7,882 shares of the real estate investment trust’s stock worth $641,000 after purchasing an additional 153 shares in the last quarter. Everhart Financial Group Inc. raised its holdings in Crown Castle by 2.7% during the second quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 153 shares in the last quarter. Finally, Mirador Capital Partners LP raised its holdings in Crown Castle by 2.1% during the third quarter. Mirador Capital Partners LP now owns 8,512 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 177 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown Castle

In other news, VP Robert Collins sold 1,500 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the sale, the vice president directly owned 5,113 shares of the company’s stock, valued at $388,025.57. This trade represents a 22.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. Barclays upped their target price on Crown Castle from $84.00 to $86.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 30th. Citigroup reiterated a “market outperform” rating on shares of Crown Castle in a research report on Thursday, October 22nd. Weiss Ratings raised Crown Castle from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. TD Cowen upped their price objective on Crown Castle from $92.00 to $98.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. cut Crown Castle from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $85.00 to $80.00 in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $94.27.

Crown Castle Price Performance

Shares of CCI opened at $87.80 on Thursday. The firm’s 50 day moving average is $75.23 and its 200-day moving average is $82.22. Crown Castle Inc. has a 12-month low of $65.32 and a 12-month high of $95.32. The stock has a market capitalization of $37.35 billion, a P/E ratio of 46.21, a P/E/G ratio of 0.77 and a beta of 0.94.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $995.00 million for the quarter, compared to the consensus estimate of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The company’s quarterly revenue was down 7.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.12 earnings per share. As a group, equities research analysts forecast that Crown Castle Inc. will post 4.41 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Tuesday, September 15th. Crown Castle’s dividend payout ratio is 223.68%.

Crown Castle Company Profile

Crown Castle Inc (NYSE: CCI) is a real estate investment trust that owns, operates and leases communications infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company’s infrastructure has historically included approximately 40,000 cell towers, about 90,000 route miles of fiber and a large portfolio of small-cell installations.