Janus Henderson Group PLC Sells 222,487 Shares of Crown Castle Inc. (NYSE:CCI)

Janus Henderson Group PLC lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 78.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,276 shares of the real estate investment trust's stock after selling 222,487 shares during the period. Janus Henderson Group PLC's holdings in Crown Castle were worth $7,388,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in CCI. Legal & General Group Plc grew its stake in Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock valued at $603,518,000 after purchasing an additional 67,072 shares during the period. Fisher Asset Management LLC grew its position in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock valued at $603,592,000 after buying an additional 203,442 shares during the period. Charles Schwab Investment Management Inc. grew its position in Crown Castle by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust's stock valued at $593,498,000 after buying an additional 237,730 shares during the period. National Bank of Canada FI increased its holdings in Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust's stock worth $387,333,000 after buying an additional 391,127 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in 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 during the period. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CCI shares. Barclays raised their price target on shares of Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. TD Cowen lowered their target price 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. Jefferies Financial Group upped their price target on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, The Goldman Sachs Group upped 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. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $116.53.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $1.40 during trading on Tuesday, hitting $100.60. The stock had a trading volume of 3,232,746 shares, compared to its average volume of 2,618,267. 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 Inc. has a 12 month low of $92.48 and a 12 month high of $120.92. The firm has a market cap of $43.72 billion, a price-to-earnings ratio of 35.67 and a beta of 0.86. The business's 50-day moving average is $107.87 and its 200 day moving average is $107.18.

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 analysts' consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. As a group, sell-side analysts anticipate 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 will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 6.22%. Crown Castle's dividend payout ratio is presently 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.