Rockefeller Capital Management L.P. Sells 14,714 Shares of Crown Castle Inc. (NYSE:CCI)

Rockefeller Capital Management L.P. cut its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 8.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 160,110 shares of the real estate investment trust's stock after selling 14,714 shares during the period. Rockefeller Capital Management L.P.'s holdings in Crown Castle were worth $18,994,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of CCI. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% during the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust's stock worth $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust's stock worth $376,000 after buying an additional 91 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust's stock valued at $221,000 after buying an additional 95 shares in the last quarter. True North Advisors LLC raised its stake in Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust's stock valued at $278,000 after buying an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its holdings in Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust's stock worth $1,899,000 after acquiring an additional 100 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.95 during midday trading on Monday, hitting $105.30. The company had a trading volume of 2,514,859 shares, compared to its average volume of 2,608,040. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The company has a fifty day moving average of $109.48 and a two-hundred day moving average of $107.09. The company has a market cap of $45.76 billion, a price-to-earnings ratio of 37.34 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI - Get Free Report) last issued 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). 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 during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the company earned $1.77 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.94%. Crown Castle's payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Bank of America upped their price target 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. Citigroup set a $128.00 price objective on shares of Crown Castle in a 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 note on Monday, September 23rd. Jefferies Financial Group increased their price objective on Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a research report on Thursday, October 17th. Finally, UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Crown Castle has an average rating of "Hold" and a consensus target price of $116.87.

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.