Invst LLC Sells 169 Shares of Crown Castle Inc. (NYSE:CCI)

Invst LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,348 shares of the real estate investment trust’s stock after selling 169 shares during the quarter. Invst LLC’s holdings in Crown Castle were worth $872,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after buying an additional 2,464,094 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Crown Castle by 191.7% during the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after buying an additional 1,335,644 shares in the last quarter. Finally, Cooke & Bieler LP boosted its holdings in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock worth $251,962,000 after acquiring an additional 1,261,536 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. Wells Fargo & Company cut shares of Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $105.00 to $100.00 in a research note on Tuesday. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Finally, Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $116.53.

Crown Castle Trading Down 1.4 %

Shares of NYSE CCI opened at $100.60 on Wednesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company’s fifty day moving average is $107.87 and its 200-day moving average is $107.18. The stock has a market cap of $43.72 billion, a price-to-earnings ratio of 35.67 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the firm earned $1.77 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.22%. Crown Castle’s dividend payout ratio (DPR) is presently 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.