Crown Castle Inc. (NYSE:CCI) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 3.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 216,927 shares of the real estate investment trust's stock after selling 7,867 shares during the period. Public Employees Retirement System of Ohio's holdings in Crown Castle were worth $25,734,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle in the third quarter valued at approximately $25,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after acquiring an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 136 shares during the period. ORG Partners LLC acquired a new stake in shares of Crown Castle in the second quarter valued at $34,000. Finally, New Millennium Group LLC purchased a new position in Crown Castle in the second quarter valued at $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $1.40 during midday trading on Tuesday, reaching $100.60. 3,232,746 shares of the company were exchanged, compared to its average volume of 2,618,267. The stock has a fifty day simple moving average of $107.87 and a 200 day simple moving average of $107.18. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $43.72 billion, a P/E ratio of 35.67 and a beta of 0.86. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its quarterly earnings results 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion for the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter last year, the company earned $1.77 EPS. Crown Castle's revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.22%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's dividend payout ratio is presently 221.99%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CCI shares. Wells Fargo & Company lowered Crown Castle from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $105.00 to $100.00 in a research report on Tuesday. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a "sector perform" rating in a report on Monday, October 28th. UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. The Goldman Sachs Group raised 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. Finally, Bank of America boosted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of "Hold" and an average price target of $116.53.

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.