Crown Castle Inc. (NYSE:CCI) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division decreased its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 67.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,754 shares of the real estate investment trust's stock after selling 9,662 shares during the period. Central Pacific Bank Trust Division's holdings in Crown Castle were worth $431,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Wellington Management Group LLP increased its stake in Crown Castle by 23.8% during 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Crown Castle by 433.8% in the third 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 worth $470,838,000 after acquiring an additional 3,225,460 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in shares of 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 worth $246,617,000 after acquiring an additional 2,464,094 shares in the last quarter. Bank of Montreal Can grew its stake in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust's stock valued at $195,183,000 after purchasing an additional 1,335,644 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust's stock worth $115,449,000 after purchasing an additional 965,907 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

CCI has been the subject of several research analyst reports. 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. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a report on Thursday, October 17th. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a "buy" rating to a "hold" rating and lowered their price objective for the company from $127.00 to $84.00 in a report on Thursday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $113.93.

Crown Castle Stock Performance

Crown Castle stock traded up $0.73 during midday trading on Friday, reaching $89.99. 2,108,199 shares of the stock traded hands, compared to its average volume of 2,286,250. The firm has a fifty day moving average price of $100.51 and a two-hundred day moving average price of $106.15. Crown Castle Inc. has a fifty-two week low of $88.65 and a fifty-two week high of $120.92. The firm has a market cap of $39.11 billion, a price-to-earnings ratio of 31.91 and a beta of 0.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results 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 period in the previous year, the firm earned $1.77 EPS. The firm's revenue was down .9% on a year-over-year basis. On average, equities research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.96%. Crown Castle's dividend payout ratio (DPR) is 221.99%.

Crown Castle 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.