Crown Castle Inc. (NYSE:CCI) Shares Bought by Umpqua Bank

Umpqua Bank lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,092 shares of the real estate investment trust’s stock after buying an additional 197 shares during the period. Umpqua Bank’s holdings in Crown Castle were worth $604,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in CCI. Quent Capital LLC raised its position in Crown Castle by 10.9% during the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 231 shares during the last quarter. Whittier Trust Co. lifted its position in Crown Castle by 6.2% during the first quarter. Whittier Trust Co. now owns 2,268 shares of the real estate investment trust’s stock valued at $240,000 after purchasing an additional 132 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its position in Crown Castle by 17.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 27,047 shares of the real estate investment trust’s stock worth $2,862,000 after purchasing an additional 4,016 shares during the period. Mediolanum International Funds Ltd purchased a new position in shares of Crown Castle during the 1st quarter valued at about $4,325,000. Finally, Avidian Wealth Solutions LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $269,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CCI shares. Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. Finally, UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Down 4.7 %

NYSE CCI traded down $5.09 during mid-day trading on Wednesday, reaching $103.61. 542,111 shares of the company’s stock traded hands, compared to its average volume of 2,603,524. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a fifty day simple moving average of $113.59 and a 200-day simple moving average of $106.11. The company has a market cap of $45.03 billion, a price-to-earnings ratio of 38.55 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.77 earnings per share. As a group, equities research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current year.

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.