Commerzbank Aktiengesellschaft FI Grows Stock Holdings in Crown Castle Inc. $CCI

Commerzbank Aktiengesellschaft FI lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 41.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,018 shares of the real estate investment trust’s stock after acquiring an additional 17,730 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Crown Castle were worth $5,888,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Winnow Wealth LLC purchased a new stake in Crown Castle in the second quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Crown Castle during the 2nd quarter valued at about $27,000. NewSquare Capital LLC lifted its holdings in shares of Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the period. Creative Financial Designs Inc. ADV boosted its stake in shares of Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 98 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its holdings in Crown Castle by 511.3% during the second quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock worth $33,000 after acquiring an additional 271 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Crown Castle stock opened at $86.58 on Friday. The stock has a market capitalization of $37.70 billion, a P/E ratio of -8.14, a P/E/G ratio of 0.55 and a beta of 0.96. The company’s fifty day moving average price is $88.59 and its 200 day moving average price is $95.20. Crown Castle Inc. has a 1 year low of $83.21 and a 1 year high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $1.84 earnings per share. The firm’s revenue for the quarter was down 4.3% on a year-over-year basis. Sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is currently -39.98%.

Analysts Set New Price Targets

A number of research analysts have issued reports on CCI shares. The Goldman Sachs Group decreased their price target on Crown Castle from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, January 16th. Raymond James Financial cut their target price on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a report on Friday. New Street Research downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target on the stock. in a report on Monday, January 5th. UBS Group dropped their price target on shares of Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. Finally, Jefferies Financial Group cut their price objective on shares of Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $106.75.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.