Fort Pitt Capital Group LLC lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 81.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,312 shares of the real estate investment trust's stock after selling 31,209 shares during the period. Fort Pitt Capital Group LLC's holdings in Crown Castle were worth $867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also modified their holdings of the business. Harbor Capital Advisors Inc. bought a new stake in shares of Crown Castle during the 3rd quarter worth approximately $47,000. Janney Montgomery Scott LLC grew its position in Crown Castle by 5.1% in the 3rd quarter. Janney Montgomery Scott LLC now owns 265,034 shares of the real estate investment trust's stock valued at $31,441,000 after acquiring an additional 12,948 shares during the last quarter. Lmcg Investments LLC purchased a new stake in Crown Castle in the third quarter worth $205,000. Silvant Capital Management LLC lifted its position in shares of Crown Castle by 36.4% during the third quarter. Silvant Capital Management LLC now owns 974 shares of the real estate investment trust's stock worth $116,000 after purchasing an additional 260 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of Crown Castle by 13.0% during the third quarter. Farther Finance Advisors LLC now owns 4,071 shares of the real estate investment trust's stock valued at $483,000 after purchasing an additional 468 shares during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently commented on CCI. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Jefferies Financial Group boosted their price target on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Tuesday, August 13th. Finally, Barclays upped their target price on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a report on Friday. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $116.87.
Read Our Latest Stock Report on CCI
Crown Castle Stock Down 0.8 %
Shares of NYSE:CCI traded down $0.91 during trading on Friday, reaching $106.58. The stock had a trading volume of 1,815,682 shares, compared to its average volume of 2,361,797. 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 company has a market capitalization of $46.32 billion, a P/E ratio of 37.79 and a beta of 0.86. The firm's 50-day simple moving average is $113.78 and its 200 day simple moving average is $105.91. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92.
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 the consensus estimate of $1.73 by ($1.03). The firm 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%. Crown Castle's revenue was down .9% on a year-over-year basis. During the same quarter last year, the business earned $1.77 earnings per share. As a group, research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date was Friday, September 13th. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.
Crown Castle Profile
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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.
Further Reading
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