Walleye Capital LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 99.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,847 shares of the real estate investment trust's stock after selling 693,044 shares during the period. Walleye Capital LLC's holdings in Crown Castle were worth $338,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. RFG Advisory LLC increased its stake in shares of Crown Castle by 2.9% in the second quarter. RFG Advisory LLC now owns 7,317 shares of the real estate investment trust's stock worth $715,000 after purchasing an additional 207 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Crown Castle by 12.8% in the second quarter. Sequoia Financial Advisors LLC now owns 8,013 shares of the real estate investment trust's stock valued at $783,000 after acquiring an additional 909 shares during the period. Wedmont Private Capital acquired a new stake in shares of Crown Castle in the second quarter worth $218,000. V Square Quantitative Management LLC increased its position in Crown Castle by 2.1% during the second quarter. V Square Quantitative Management LLC now owns 8,675 shares of the real estate investment trust's stock worth $848,000 after acquiring an additional 176 shares during the period. Finally, ORG Partners LLC acquired a new position in Crown Castle during the 2nd quarter valued at $34,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Crown Castle Price Performance
CCI traded down $1.40 during trading on Tuesday, hitting $100.60. The company's stock had a trading volume of 3,232,746 shares, compared to its average volume of 2,618,267. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $43.72 billion, a price-to-earnings ratio of 35.67 and a beta of 0.86. The firm's 50 day moving average price is $107.87 and its two-hundred day moving average price is $107.18. 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 issued its quarterly 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). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.77 EPS. Sell-side analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.
Crown Castle Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 6.22%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.
Analyst Ratings Changes
Several research firms have issued reports on CCI. Wells Fargo & Company lowered shares of Crown Castle from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $105.00 to $100.00 in a research report on Tuesday. Royal Bank of Canada boosted 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. Barclays raised their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an "equal weight" rating in a research report on Friday, November 1st. TD Cowen lowered their price objective on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $116.53.
Check Out Our Latest Stock Report on Crown Castle
About Crown Castle
(
Free Report)
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.
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