Crown Castle Inc. (NYSE:CCI) Shares Sold by Cravens & Co Advisors LLC

Cravens & Co Advisors LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 12.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,232 shares of the real estate investment trust’s stock after selling 326 shares during the quarter. Cravens & Co Advisors LLC’s holdings in Crown Castle were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Legal & General Group Plc increased its holdings in shares of Crown Castle by 1.1% in the 2nd 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 acquiring an additional 67,072 shares during the period. Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 4.2% in the 3rd 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 acquiring an additional 203,442 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Crown Castle by 5.0% in the 3rd 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 acquiring an additional 237,730 shares during the period. National Bank of Canada FI increased its stake in Crown Castle by 10.7% in the 2nd quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock valued at $387,333,000 after buying an additional 391,127 shares during the period. Finally, Daiwa Securities Group Inc. increased its stake in Crown Castle by 25.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after buying an additional 642,010 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CCI. Barclays boosted their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Bank of America boosted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. UBS Group boosted 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. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Finally, Citigroup set a $128.00 price objective on shares of Crown Castle 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. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Price Performance

Crown Castle stock opened at $106.30 on Wednesday. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. 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 firm’s 50-day simple moving average is $110.06 and its 200 day simple moving average is $106.98. The firm has a market capitalization of $46.20 billion, a PE ratio of 37.69 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. On average, equities research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.