BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 12.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 72,508 shares of the real estate investment trust's stock after selling 10,710 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Crown Castle were worth $8,602,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Cetera Investment Advisers raised its position in Crown Castle by 143.4% in the 1st quarter. Cetera Investment Advisers now owns 121,654 shares of the real estate investment trust's stock valued at $12,875,000 after purchasing an additional 71,672 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in Crown Castle by 12.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust's stock worth $101,000 after buying an additional 108 shares in the last quarter. GAMMA Investing LLC grew its holdings in Crown Castle by 32.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,519 shares of the real estate investment trust's stock worth $344,000 after acquiring an additional 858 shares during the last quarter. DNB Asset Management AS increased its position in Crown Castle by 11.2% in the 2nd quarter. DNB Asset Management AS now owns 73,902 shares of the real estate investment trust's stock valued at $7,220,000 after acquiring an additional 7,445 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Crown Castle in the second quarter worth about $148,000. Institutional investors and hedge funds own 90.77% of the company's stock.
Crown Castle Stock Down 0.9 %
Shares of CCI stock traded down $0.95 on Monday, hitting $105.30. 2,514,859 shares of the stock were exchanged, compared to its average volume of 2,608,040. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $45.76 billion, a P/E ratio of 37.34 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The business has a 50-day moving average of $109.48 and a 200 day moving average of $107.09.
Crown Castle (NYSE:CCI - Get Free Report) last released 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the company earned $1.77 EPS. The company's revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.94%. Crown Castle's payout ratio is currently 221.99%.
Analysts Set New Price Targets
Several research firms recently weighed in on CCI. The Goldman Sachs Group boosted their price objective 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. Bank of America upped their price target on Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company lifted their target price on shares of Crown Castle from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $116.87.
Get Our Latest Report on CCI
About Crown Castle
(
Free Report)
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.
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