Crown Castle Inc. (NYSE:CCI) Shares Sold by Fmr LLC

FMR LLC cut its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,308,482 shares of the real estate investment trust's stock after selling 955,976 shares during the quarter. FMR LLC owned 3.29% of Crown Castle worth $1,697,415,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new position in Crown Castle in the third quarter valued at about $25,000. EntryPoint Capital LLC purchased a new position in Crown Castle in the 1st quarter valued at approximately $27,000. Asset Dedication LLC raised its holdings in Crown Castle by 159.0% during the second 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. Beacon Capital Management LLC boosted its position in 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 purchasing an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the third 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. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Citigroup set a $128.00 price target on Crown Castle in a research report on Thursday, October 17th. 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 research report on Friday, October 18th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. Jefferies Financial Group raised their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a research note on Thursday, October 17th. Finally, TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $116.87.

Crown Castle Trading Up 0.4 %

NYSE CCI traded up $0.39 during trading hours on Wednesday, hitting $106.69. 1,977,218 shares of the company's stock were exchanged, compared to its average volume of 2,611,792. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $46.37 billion, a P/E ratio of 37.83 and a beta of 0.86. The business's 50 day moving average is $109.83 and its 200-day moving average is $106.98. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

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 for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the company earned $1.77 earnings per share. The company's revenue was down .9% on a year-over-year basis. As a group, analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

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

About Crown Castle

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.