Mizuho Securities USA LLC Buys 92,211 Shares of Crown Castle Inc. (NYSE:CCI)

Mizuho Securities USA LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 275.2% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 125,717 shares of the real estate investment trust’s stock after acquiring an additional 92,211 shares during the quarter. Mizuho Securities USA LLC’s holdings in Crown Castle were worth $14,914,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Quent Capital LLC grew its stake in Crown Castle by 10.9% during the first quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 231 shares in the last quarter. Jacobi Capital Management LLC boosted its position in shares of Crown Castle by 3.3% during the 1st quarter. Jacobi Capital Management LLC now owns 7,363 shares of the real estate investment trust’s stock worth $779,000 after acquiring an additional 237 shares in the last quarter. Resurgent Financial Advisors LLC raised its position in Crown Castle by 15.9% during the first quarter. Resurgent Financial Advisors LLC now owns 10,500 shares of the real estate investment trust’s stock valued at $1,111,000 after purchasing an additional 1,437 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its stake in Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Crown Castle by 15.9% in the 1st quarter. Clearbridge Investments LLC now owns 3,038 shares of the real estate investment trust’s stock valued at $322,000 after purchasing an additional 416 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI stock opened at $103.80 on Friday. 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 one year low of $92.48 and a one year high of $120.92. The business’s 50 day simple moving average is $112.05 and its 200 day simple moving average is $106.53. The stock has a market capitalization of $45.11 billion, a PE ratio of 36.81 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned $1.77 EPS. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. As a group, research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.03%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on CCI. Jefferies Financial Group boosted their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays raised their price target on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a report 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle 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.