Sompo Asset Management Co. Ltd. Purchases 400 Shares of Crown Castle Inc. (NYSE:CCI)

Sompo Asset Management Co. Ltd. grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 14.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,080 shares of the real estate investment trust’s stock after buying an additional 400 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Crown Castle were worth $365,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp grew its stake in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the last quarter. BOKF NA lifted its holdings in Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 815 shares during the period. Quest Partners LLC lifted its holdings in shares of Crown Castle by 3,111.6% during the third quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock valued at $1,581,000 after purchasing an additional 12,913 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Crown Castle by 7.9% during 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 last quarter. Finally, OLD National Bancorp IN lifted its holdings in shares of Crown Castle by 23.8% during the second quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after purchasing an additional 17,529 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.9 %

Shares of CCI stock opened at $105.44 on Monday. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The firm has a fifty day moving average price of $110.60 and a 200-day moving average price of $106.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $45.82 billion, a price-to-earnings ratio of 37.39 and a beta of 0.86.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the previous year, the firm earned $1.77 EPS. The company’s revenue was down .9% on a year-over-year basis. As a group, equities analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CCI shares. Royal Bank of Canada lifted their target price 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. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group boosted their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company boosted their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a report on Friday, October 18th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.