Crown Castle Inc. (NYSE:CCI) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets decreased its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 565,276 shares of the real estate investment trust's stock after selling 52,946 shares during the period. BNP Paribas Financial Markets owned 0.13% of Crown Castle worth $67,059,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the third quarter valued at about $25,000. Asset Dedication LLC raised its holdings in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust's stock worth $30,000 after buying an additional 177 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after buying an additional 136 shares during the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Crown Castle during the second quarter valued at $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on CCI shares. Jefferies Financial Group raised their target price 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. Wells Fargo & Company upped their target price on Crown Castle from $100.00 to $105.00 and gave the company an "equal weight" rating in a research report on Friday, October 18th. The Goldman Sachs Group raised 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. Finally, Royal Bank of Canada upped their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $116.87.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $0.40 on Thursday, hitting $106.70. 1,977,283 shares of the company were exchanged, compared to its average volume of 2,611,792. 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 company has a 50-day moving average price of $109.66 and a 200 day moving average price of $106.98. The stock has a market capitalization of $46.37 billion, a price-to-earnings ratio of 37.84 and a beta of 0.86. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the business posted $1.77 earnings per share. The company's revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.

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.