Sanctuary Advisors LLC Sells 42,796 Shares of Crown Castle Inc. (NYSE:CCI)

Sanctuary Advisors LLC lessened its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 35.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 77,197 shares of the real estate investment trust's stock after selling 42,796 shares during the period. Sanctuary Advisors LLC's holdings in Crown Castle were worth $9,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton increased its position in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Asset Dedication LLC boosted its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust's stock worth $27,000 after buying an additional 167 shares during the period. New Millennium Group LLC purchased a new stake in shares of Crown Castle during the second quarter valued at $34,000. Finally, ORG Partners LLC bought a new position in Crown Castle in the second quarter worth about $34,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCI. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a report on Monday, September 23rd. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Finally, Barclays upped their price target on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $117.00.

Crown Castle Price Performance

Shares of NYSE CCI traded down $0.09 during midday trading on Friday, reaching $97.11. The stock had a trading volume of 3,698,427 shares, compared to its average volume of 2,674,139. The stock has a 50-day moving average of $106.57 and a 200-day moving average of $107.14. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $42.20 billion, a price-to-earnings ratio of 34.44 and a beta of 0.86. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (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 firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the business posted $1.77 EPS. Crown Castle's revenue was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Crown Castle Inc. will post 6.66 EPS 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. Stockholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.45%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's payout ratio is 221.99%.

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.