Private Advisor Group LLC Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Private Advisor Group LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,316 shares of the real estate investment trust’s stock after selling 2,232 shares during the quarter. Private Advisor Group LLC’s holdings in Crown Castle were worth $3,359,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of CCI. EntryPoint Capital LLC acquired a new position in shares of Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the period. New Millennium Group LLC acquired a new stake in shares of Crown Castle in the second quarter valued at $34,000. Finally, ORG Partners LLC acquired a new position in Crown Castle during the 2nd quarter worth $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Down 2.3 %

CCI opened at $108.91 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $87.38 and a 52 week high of $120.92. The business’s 50 day moving average is $114.05 and its two-hundred day moving average is $105.48. The firm has a market cap of $47.32 billion, a price-to-earnings ratio of 34.03 and a beta of 0.85.

Crown Castle (NYSE:CCI) last announced its 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 analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 earnings per share. On average, research analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CCI. Jefferies Financial Group increased their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Bank of America boosted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada increased their target price on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, UBS Group lifted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $116.47.

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.