PNC Financial Services Group Inc. Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

PNC Financial Services Group Inc. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 43.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 130,641 shares of the real estate investment trust's stock after selling 98,434 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Crown Castle were worth $15,498,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock worth $603,518,000 after buying an additional 67,072 shares during the last quarter. National Bank of Canada FI lifted its position in shares of Crown Castle by 10.7% during the 2nd 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. Cooke & Bieler LP lifted its position 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 buying an additional 1,261,536 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Crown Castle by 4,097.8% during the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust's stock worth $246,617,000 after buying an additional 2,464,094 shares during the last quarter. Finally, M&G PLC lifted its position in shares of Crown Castle by 1.0% during the 3rd quarter. M&G PLC now owns 2,180,221 shares of the real estate investment trust's stock worth $259,446,000 after buying an additional 21,843 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Jefferies Financial Group increased their target price on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a research note on Monday, October 28th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a "buy" rating for the company in a research note on Thursday, October 17th. Finally, UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of "Hold" and a consensus target price of $116.87.

Crown Castle Stock Up 0.9 %

Shares of NYSE CCI traded up $0.92 during midday trading on Friday, hitting $105.42. 1,541,931 shares of the stock traded hands, compared to its average volume of 2,606,444. The company has a market cap of $45.81 billion, a PE ratio of 37.38 and a beta of 0.86. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The business has a 50 day moving average price of $110.60 and a two-hundred day moving average price of $106.75. 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 released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS 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 company's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.94%. Crown Castle's dividend payout ratio is 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.