Commerzbank Aktiengesellschaft FI Purchases 17,730 Shares of Crown Castle Inc. $CCI

Commerzbank Aktiengesellschaft FI boosted its position in shares of Crown Castle Inc. (NYSE:CCI) by 41.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 61,018 shares of the real estate investment trust’s stock after purchasing an additional 17,730 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Crown Castle were worth $5,888,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Winnow Wealth LLC bought a new position in shares of Crown Castle during the 2nd quarter worth $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Crown Castle in the second quarter worth about $27,000. NewSquare Capital LLC grew its holdings in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 98 shares in the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in Crown Castle by 511.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 271 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.5%

NYSE CCI opened at $86.58 on Friday. Crown Castle Inc. has a 12-month low of $83.21 and a 12-month high of $115.76. The company has a fifty day simple moving average of $88.59 and a two-hundred day simple moving average of $95.20. The stock has a market cap of $37.70 billion, a P/E ratio of -8.14, a P/E/G ratio of 0.55 and a beta of 0.96.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.08. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.05 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The firm’s quarterly revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the business posted $1.84 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent research reports. Raymond James Financial dropped their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research note on Friday. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 16th. UBS Group cut their price target on Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a report on Tuesday, January 20th. Scotiabank dropped their price objective on Crown Castle from $114.00 to $96.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 14th. Finally, Jefferies Financial Group cut their target price on Crown Castle from $102.00 to $90.00 and set a “hold” rating on the stock in a research note on Tuesday, December 16th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $106.75.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.