International Assets Investment Management LLC reduced its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 99.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,953 shares of the real estate investment trust's stock after selling 968,232 shares during the quarter. International Assets Investment Management LLC's holdings in Crown Castle were worth $442,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Catalyst Capital Advisors LLC bought a new stake in Crown Castle in the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its stake in shares of 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 acquiring an additional 136 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Crown Castle by 3,672.7% in the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust's stock worth $41,000 after acquiring an additional 404 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the 3rd quarter valued at $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Crown Castle in the 3rd quarter valued at $50,000. 90.77% of the stock is currently owned by institutional investors.
Crown Castle Trading Down 3.6 %
Shares of NYSE CCI traded down $3.19 during midday trading on Friday, hitting $84.31. 4,119,624 shares of the company traded hands, compared to its average volume of 2,907,152. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $36.64 billion, a P/E ratio of 29.90 and a beta of 0.87. The stock has a 50-day moving average price of $98.47 and a 200 day moving average price of $105.97. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.
Crown Castle (NYSE:CCI - Get Free Report) last posted 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). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business's revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.
Crown Castle Dividend Announcement
The company also recently disclosed 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. This represents a $6.26 annualized dividend and a yield of 7.42%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.
Wall Street Analysts Forecast Growth
CCI has been the subject of several recent research reports. Wells Fargo & Company downgraded shares of Crown Castle from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $105.00 to $100.00 in a research note on Tuesday, December 10th. Barclays boosted their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. TD Cowen reduced their price target on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. raised their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $113.93.
Check Out Our Latest Research Report on CCI
Crown Castle 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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