Crown Castle Inc. (NYSE:CCI) Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC lowered its position in Crown Castle Inc. (NYSE:CCI) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,853 shares of the real estate investment trust’s stock after selling 371 shares during the quarter. GAMMA Investing LLC’s holdings in Crown Castle were worth $440,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Inspire Trust Co. N.A. grew its position in shares of Crown Castle by 9.0% in the third quarter. Inspire Trust Co. N.A. now owns 12,100 shares of the real estate investment trust’s stock valued at $1,435,000 after purchasing an additional 1,000 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in Crown Castle by 0.3% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 68,854 shares of the real estate investment trust’s stock valued at $8,167,000 after buying an additional 202 shares during the last quarter. Tidal Investments LLC increased its position in Crown Castle by 12.7% during the third quarter. Tidal Investments LLC now owns 11,709 shares of the real estate investment trust’s stock worth $1,389,000 after buying an additional 1,315 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Crown Castle in the third quarter worth $1,038,000. Finally, World Investment Advisors LLC lifted its position in shares of Crown Castle by 16.7% in the third quarter. World Investment Advisors LLC now owns 3,374 shares of the real estate investment trust’s stock valued at $400,000 after acquiring an additional 484 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.8 %

Shares of NYSE CCI opened at $89.99 on Monday. The stock has a fifty day moving average price of $100.51 and a 200 day moving average price of $106.30. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $88.65 and a 12-month high of $120.92. The company has a market cap of $39.11 billion, a P/E ratio of 31.91 and a beta of 0.87.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company 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%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 EPS. Research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.96%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analysts Set New Price Targets

A number of analysts recently commented on CCI shares. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a report on Thursday. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Barclays increased 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, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.93.

Crown Castle Company 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.