1,003 Shares in Crown Castle Inc. (NYSE:CCI) Bought by Eastern Bank

Eastern Bank purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,003 shares of the real estate investment trust’s stock, valued at approximately $119,000.

A number of other institutional investors also recently modified their holdings of the company. BOKF NA lifted its stake in Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in shares of Crown Castle by 0.9% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after purchasing an additional 8,136 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings 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. Norden Group LLC bought a new position in Crown Castle in the first quarter valued at $1,804,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Crown Castle by 21.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock valued at $54,816,000 after buying an additional 91,404 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCI. Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.47.

Crown Castle Price Performance

Crown Castle stock opened at $111.42 on Friday. The company has a market capitalization of $48.42 billion, a price-to-earnings ratio of 39.51 and a beta of 0.85. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $86.49 and a 12 month high of $120.92. The stock’s 50 day moving average is $114.02 and its 200-day moving average is $105.30.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the company earned $1.77 earnings per share. The business’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

About Crown Castle

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.