Crown Castle Inc. (NYSE:CCI) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lessened its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,124,255 shares of the real estate investment trust's stock after selling 17,221 shares during the quarter. Stifel Financial Corp owned approximately 0.26% of Crown Castle worth $133,371,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock worth $31,000 after buying an additional 136 shares during the period. Asset Dedication LLC lifted its holdings in shares of Crown Castle by 159.0% in the 2nd 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 in the 2nd quarter worth $34,000. Finally, ORG Partners LLC purchased a new stake in shares of Crown Castle in the 2nd quarter worth $34,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 1.5 %

Crown Castle stock traded down $1.50 during midday trading on Friday, reaching $101.82. The company's stock had a trading volume of 2,965,187 shares, compared to its average volume of 2,608,716. The stock's 50-day simple moving average is $108.50 and its 200-day simple moving average is $107.06. 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 Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The stock has a market capitalization of $44.25 billion, a P/E ratio of 36.10 and a beta of 0.86.

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 analysts' consensus estimates of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. On average, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

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 $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the subject of several research reports. Jefferies Financial Group upped their target price on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Crown Castle from $100.00 to $105.00 and gave the stock an "equal weight" rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. upped their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research note on Monday, September 23rd. Finally, UBS Group upped their price objective on Crown Castle from $103.00 to $118.00 and gave the stock 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 given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $116.87.

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.