TCW Group Inc. lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 55,000 shares of the real estate investment trust's stock after selling 5,999 shares during the quarter. TCW Group Inc.'s holdings in Crown Castle were worth $6,525,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the third quarter worth approximately $25,000. Asset Dedication LLC increased its stake in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after purchasing an additional 167 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 136 shares during the last quarter. ORG Partners LLC bought a new position in shares of Crown Castle during the 2nd quarter valued at $34,000. Finally, New Millennium Group LLC acquired a new stake in shares of Crown Castle in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 90.77% of the company's stock.
Crown Castle Stock Performance
Shares of CCI traded down $0.39 on Thursday, reaching $98.79. 3,351,473 shares of the stock traded hands, compared to its average volume of 2,621,865. The firm has a market cap of $42.93 billion, a price-to-earnings ratio of 35.17 and a beta of 0.86. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The stock's 50-day moving average price is $107.17 and its 200-day moving average price is $107.14. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.
Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the company posted $1.77 EPS. The company's quarterly revenue was down .9% compared to the same quarter last year. Equities analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.
Crown Castle Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 6.34%. Crown Castle's dividend payout ratio is currently 221.99%.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Royal Bank of Canada increased their target price 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. Jefferies Financial Group boosted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Barclays increased their price target on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Finally, TD Cowen cut their target price on shares of Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $116.53.
Read Our Latest Report on CCI
Crown Castle Company Profile
(
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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