Chicago Partners Investment Group LLC Has $4.91 Million Position in Crown Castle Inc. (NYSE:CCI)

Chicago Partners Investment Group LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 12.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,317 shares of the real estate investment trust's stock after selling 6,253 shares during the period. Chicago Partners Investment Group LLC's holdings in Crown Castle were worth $4,905,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CCI. Daiwa Securities Group Inc. raised its holdings in shares of Crown Castle by 4,097.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock valued at $246,617,000 after purchasing an additional 2,464,094 shares during the period. M&G Plc bought a new stake in Crown Castle in the first quarter valued at approximately $221,573,000. Bank of Montreal Can lifted its position in shares of Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust's stock valued at $195,183,000 after buying an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP boosted its stake in shares of Crown Castle by 95.8% during the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust's stock worth $251,962,000 after acquiring an additional 1,261,536 shares during the period. Finally, Capital International Investors increased its holdings in shares of Crown Castle by 68,262.1% during the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust's stock worth $131,239,000 after acquiring an additional 1,238,274 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

NYSE CCI traded down $0.91 during midday trading on Friday, hitting $106.58. The company had a trading volume of 1,815,682 shares, compared to its average volume of 2,361,797. The firm has a 50-day moving average price of $113.78 and a 200-day moving average price of $105.82. The company has a market capitalization of $46.32 billion, a PE ratio of 37.79 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. As a group, analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle's dividend payout ratio (DPR) is 221.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CCI shares. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a report on Thursday, October 17th. Wells Fargo & Company raised 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 note on Friday, October 18th. Jefferies Financial Group upped their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research note on Thursday, October 17th. Barclays increased their price target on shares of Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a report on Friday. Finally, Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of "Hold" and a consensus target price of $116.87.

Crown Castle 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.