Forsta AP Fonden Has $16.44 Million Stake in Crown Castle Inc. (NYSE:CCI)

Forsta AP Fonden trimmed its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 138,600 shares of the real estate investment trust's stock after selling 12,900 shares during the quarter. Forsta AP Fonden's holdings in Crown Castle were worth $16,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter worth about $27,000. Asset Dedication LLC lifted its holdings in Crown Castle by 159.0% in 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. 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 during the period. ORG Partners LLC acquired a new position in Crown Castle during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new position in shares of Crown Castle in the second quarter valued at approximately $34,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CCI. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a "hold" rating in a research report on Tuesday, July 23rd. Barclays raised their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 10th. Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. TD Cowen cut their price objective 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. Finally, Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $116.47.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $2.54 during mid-day trading on Friday, reaching $108.91. 1,873,838 shares of the stock were exchanged, compared to its average volume of 2,637,974. The company has a market cap of $47.33 billion, a price-to-earnings ratio of 38.62 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $87.38 and a fifty-two week high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The firm has a 50-day simple moving average of $114.05 and a 200 day simple moving average of $105.43.

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). 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 last year, the business posted $1.77 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle's dividend payout ratio (DPR) is presently 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.