UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 3,225,460 Shares of Crown Castle Inc. (NYSE:CCI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 433.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,968,959 shares of the real estate investment trust’s stock after acquiring an additional 3,225,460 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Crown Castle were worth $470,838,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle in the third quarter worth about $25,000. Asset Dedication LLC increased its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. ORG Partners LLC bought a new stake in Crown Castle during the second quarter worth approximately $34,000. Finally, New Millennium Group LLC bought a new stake in Crown Castle during the second quarter worth approximately $34,000. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Jefferies Financial Group boosted their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. Bank of America upped their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada upped their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Up 0.4 %

Crown Castle stock opened at $106.70 on Friday. The business has a fifty day moving average of $109.66 and a two-hundred day moving average of $106.98. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $46.37 billion, a P/E ratio of 37.84 and a beta of 0.86. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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). The business 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 business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $1.77 earnings per share. On average, analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared 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 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

Crown Castle 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.