Creative Planning Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Creative Planning lowered its position in Crown Castle Inc. (NYSE:CCI) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 80,563 shares of the real estate investment trust’s stock after selling 191 shares during the period. Creative Planning’s holdings in Crown Castle were worth $9,557,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BOKF NA grew its position in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock worth $417,000 after buying an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Crown Castle by 0.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock worth $98,570,000 after buying an additional 8,136 shares during the last quarter. Global Assets Advisory LLC purchased a new position in shares of Crown Castle in the 1st quarter worth approximately $4,425,000. O Shaughnessy Asset Management LLC grew its position in shares of Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares during the last quarter. Finally, Norden Group LLC purchased a new position in shares of Crown Castle in the 1st quarter worth approximately $1,804,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of recent analyst reports. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. BMO Capital Markets lifted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Wells Fargo & Company lifted their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. UBS Group boosted their target price 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. Finally, Royal Bank of Canada increased their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $116.47.

Crown Castle Stock Performance

NYSE:CCI opened at $109.77 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The company has a fifty day moving average of $114.01 and a two-hundred day moving average of $105.26. The stock has a market capitalization of $47.70 billion, a PE ratio of 38.93 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates 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 business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 earnings per share. As a group, research analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.70%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.