Crown Castle Inc. $CCI Stock Position Lowered by International Assets Investment Management LLC

International Assets Investment Management LLC lessened its position in Crown Castle Inc. (NYSE:CCI) by 49.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,605 shares of the real estate investment trust’s stock after selling 4,459 shares during the period. International Assets Investment Management LLC’s holdings in Crown Castle were worth $473,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of CCI. Vanguard Group Inc. raised its stake in shares of Crown Castle by 10.1% in the 1st quarter. Vanguard Group Inc. now owns 68,840,605 shares of the real estate investment trust’s stock worth $7,175,256,000 after buying an additional 6,341,150 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Crown Castle during the first quarter worth $305,876,000. Deutsche Bank AG raised its position in shares of Crown Castle by 60.9% during the first quarter. Deutsche Bank AG now owns 5,472,921 shares of the real estate investment trust’s stock worth $570,443,000 after purchasing an additional 2,072,198 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Crown Castle by 144.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,433,109 shares of the real estate investment trust’s stock worth $357,834,000 after purchasing an additional 2,028,718 shares during the period. Finally, Alyeska Investment Group L.P. acquired a new stake in shares of Crown Castle during the first quarter worth $149,661,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 0.1%

NYSE:CCI opened at $98.73 on Wednesday. The firm has a market capitalization of $43.00 billion, a price-to-earnings ratio of -9.25, a PEG ratio of 0.75 and a beta of 0.95. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $115.76. The business’s fifty day moving average price is $97.23 and its 200 day moving average price is $100.57.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%.The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the firm earned $1.62 earnings per share. Crown Castle’s quarterly revenue was down 4.2% on a year-over-year basis. Equities analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $1.0625 dividend. The ex-dividend date was Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.3%. Crown Castle’s payout ratio is -39.83%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Scotiabank boosted their target price on Crown Castle from $109.00 to $114.00 and gave the stock a “sector perform” rating in a research report on Friday, July 25th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Citigroup cut their target price on Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday, October 16th. Wells Fargo & Company cut their target price on Crown Castle from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, KeyCorp dropped their price target on Crown Castle from $125.00 to $120.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 17th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average price target of $113.44.

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.