Crown Castle Inc. (NYSE:CCI) Holdings Increased by Malaga Cove Capital LLC

Malaga Cove Capital LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% during the third quarter, Holdings Channel.com reports. The fund owned 5,546 shares of the real estate investment trust’s stock after purchasing an additional 100 shares during the period. Malaga Cove Capital LLC’s holdings in Crown Castle were worth $658,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Crown Castle by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after buying an additional 673,243 shares in the last quarter. Legal & General Group Plc lifted its holdings in Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Crown Castle by 10.7% during the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after purchasing an additional 391,127 shares in the last quarter. ClearBridge Investments Ltd grew its stake in shares of Crown Castle by 19.4% in the 1st quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock worth $278,635,000 after purchasing an additional 428,597 shares during the last quarter. Finally, Cooke & Bieler LP raised its holdings in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on CCI. Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays upped their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Down 4.8 %

CCI stock opened at $103.46 on Thursday. The company has a 50 day moving average of $113.39 and a two-hundred day moving average of $106.09. The company has a market cap of $44.96 billion, a price-to-earnings ratio of 36.69 and a beta of 0.86. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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 (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.77 earnings per share. Crown Castle’s revenue was down .9% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

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.