Kolinsky Wealth Management LLC Invests $267,000 in Crown Castle Inc. (NYSE:CCI)

Kolinsky Wealth Management LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,247 shares of the real estate investment trust’s stock, valued at approximately $267,000.

Several other hedge funds have also modified their holdings of the stock. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter worth about $25,000. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the period. Rosenberg Matthew Hamilton lifted its position in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. ORG Partners LLC purchased a new stake in shares of Crown Castle in the 2nd quarter valued at approximately $34,000. Finally, New Millennium Group LLC purchased a new stake in shares of Crown Castle in the 2nd quarter valued at approximately $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE CCI opened at $106.25 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a fifty day simple moving average of $109.48 and a 200 day simple moving average of $107.02. The company has a market cap of $46.18 billion, a P/E ratio of 37.68 and a beta of 0.86. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last posted 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). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. On average, sell-side analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. The Goldman Sachs Group upped their price target 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. TD Cowen reduced their price target 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. Royal Bank of Canada upped their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Bank of America upped their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Company 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.