TrinityPoint Wealth LLC Invests $255,000 in Crown Castle Inc. (NYSE:CCI)

TrinityPoint Wealth LLC purchased a new position in Crown Castle Inc. (NYSE:CCI) during the third quarter, HoldingsChannel reports. The firm purchased 2,149 shares of the real estate investment trust’s stock, valued at approximately $255,000.

Several other institutional investors also recently added to or reduced their stakes in CCI. Swiss National Bank grew its stake in Crown Castle by 0.3% in the 3rd quarter. Swiss National Bank now owns 1,289,700 shares of the real estate investment trust’s stock worth $152,997,000 after acquiring an additional 3,300 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Crown Castle by 7.9% in the third quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock valued at $125,665,000 after purchasing an additional 77,135 shares during the period. Natixis Advisors LLC grew its stake in Crown Castle by 15.0% in the third quarter. Natixis Advisors LLC now owns 391,514 shares of the real estate investment trust’s stock worth $46,445,000 after purchasing an additional 51,006 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Crown Castle by 275.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 125,717 shares of the real estate investment trust’s stock worth $14,914,000 after purchasing an additional 92,211 shares during the period. Finally, Mizuho Markets Americas LLC raised its position in Crown Castle by 70.0% during the 3rd quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock valued at $100,836,000 after purchasing an additional 350,000 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI opened at $104.59 on Tuesday. The company has a market cap of $45.45 billion, a P/E ratio of 37.09 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50-day moving average price is $111.79 and its 200-day moving average price is $106.67. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

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

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.99%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Barclays increased their price target on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group increased their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price 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.