Duff & Phelps Investment Management Co. Sells 44,989 Shares of Crown Castle Inc. (NYSE:CCI)

Duff & Phelps Investment Management Co. decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 4.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 894,838 shares of the real estate investment trust's stock after selling 44,989 shares during the quarter. Crown Castle accounts for about 1.2% of Duff & Phelps Investment Management Co.'s holdings, making the stock its 28th largest holding. Duff & Phelps Investment Management Co. owned 0.21% of Crown Castle worth $106,155,000 as of its most recent SEC filing.

Other institutional 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 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton lifted its stake in Crown Castle by 107.9% in 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 in the last quarter. Asset Dedication LLC boosted its holdings 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. New Millennium Group LLC purchased a new stake in shares of Crown Castle in the second quarter valued at approximately $34,000. Finally, ORG Partners LLC acquired a new stake in shares of Crown Castle in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCI. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research note on Thursday, October 17th. Wells Fargo & Company increased their price target on Crown Castle from $100.00 to $105.00 and gave the stock an "equal weight" rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Finally, Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Crown Castle has an average rating of "Hold" and an average target price of $116.87.

Crown Castle Price Performance

NYSE CCI traded up $0.20 on Monday, reaching $102.05. 4,257,042 shares of the stock traded hands, compared to its average volume of 2,615,673. Crown Castle Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The company has a market cap of $44.35 billion, a price-to-earnings ratio of 36.12 and a beta of 0.86. The firm's fifty day simple moving average is $108.21 and its 200 day simple moving average is $107.16. 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 (NYSE:CCI - Get Free Report) last issued 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 return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business's revenue was down .9% compared to the same quarter last year. As a group, research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.13%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 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.