Zimmer Partners LP Has $2.31 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Zimmer Partners LP lessened its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 87.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,500 shares of the real estate investment trust's stock after selling 137,500 shares during the quarter. Zimmer Partners LP's holdings in Crown Castle were worth $2,313,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. State Street Corp raised its stake in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Legal & General Group Plc raised its position in shares of Crown Castle by 1.1% during the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock valued at $603,518,000 after buying an additional 67,072 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock valued at $603,592,000 after buying an additional 203,442 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Crown Castle by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust's stock valued at $593,498,000 after buying an additional 237,730 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

Shares of CCI traded down $1.47 on Friday, hitting $101.85. The company's stock had a trading volume of 2,965,187 shares, compared to its average volume of 2,337,973. The company has a market capitalization of $44.26 billion, a PE ratio of 36.12 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The company has a 50 day moving average price of $108.21 and a 200 day moving average price of $107.16. 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 posted its quarterly earnings data 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the firm posted $1.77 EPS. Crown Castle's revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts anticipate 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. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.15%. Crown Castle's dividend payout ratio (DPR) is currently 221.99%.

Analyst Ratings Changes

CCI has been the topic of several research reports. The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Barclays upped their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the stock a "neutral" rating in a research report on Monday, September 23rd. Jefferies Financial Group boosted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a "buy" rating in a report on Thursday, October 17th. Finally, UBS Group increased their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.