World Investment Advisors LLC Has $400,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

World Investment Advisors LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 16.7% during the 3rd quarter, Holdings Channel reports. The firm owned 3,374 shares of the real estate investment trust’s stock after buying an additional 484 shares during the quarter. World Investment Advisors LLC’s holdings in Crown Castle were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Anchor Investment Management LLC grew its holdings in shares of Crown Castle by 111.7% in the 3rd quarter. Anchor Investment Management LLC now owns 1,397 shares of the real estate investment trust’s stock worth $166,000 after purchasing an additional 737 shares during the last quarter. Bard Financial Services Inc. grew its holdings in shares of Crown Castle by 6.6% in the 3rd quarter. Bard Financial Services Inc. now owns 10,080 shares of the real estate investment trust’s stock worth $1,196,000 after purchasing an additional 620 shares during the last quarter. Citizens Business Bank bought a new stake in shares of Crown Castle in the 3rd quarter worth about $620,000. TD Private Client Wealth LLC grew its holdings in shares of Crown Castle by 14.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 21,329 shares of the real estate investment trust’s stock worth $2,530,000 after purchasing an additional 2,613 shares during the last quarter. Finally, Hobbs Group Advisors LLC grew its holdings in shares of Crown Castle by 17.1% in the 3rd quarter. Hobbs Group Advisors LLC now owns 2,854 shares of the real estate investment trust’s stock worth $339,000 after purchasing an additional 417 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on CCI shares. The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. UBS Group upped their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $117.00.

Crown Castle Stock Performance

Crown Castle stock opened at $94.85 on Wednesday. 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 market cap of $41.22 billion, a PE ratio of 33.63 and a beta of 0.86. The company’s 50-day moving average is $105.92 and its two-hundred day moving average is $107.13.

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 firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. Equities analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.60%. Crown Castle’s dividend payout ratio is 221.99%.

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.