Crown Castle Inc. (NYSE:CCI) Holdings Decreased by Country Club Bank

Country Club Bank decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 3.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,535 shares of the real estate investment trust’s stock after selling 1,920 shares during the period. Country Club Bank’s holdings in Crown Castle were worth $6,593,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CCI. EntryPoint Capital LLC acquired a new position in Crown Castle in the 1st quarter worth about $27,000. Asset Dedication LLC raised its stake in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Beacon Capital Management LLC boosted its position in 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 purchasing an additional 177 shares during the period. ORG Partners LLC bought a new position in shares of Crown Castle in the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new stake in shares of Crown Castle during the 2nd quarter worth $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 2.3 %

Shares of CCI stock opened at $108.91 on Friday. The firm’s fifty day moving average price is $114.06 and its two-hundred day moving average price is $105.34. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1 year low of $87.38 and a 1 year high of $120.92. The firm has a market capitalization of $47.33 billion, a P/E ratio of 38.62 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company 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 was down .9% compared to the same quarter last year. On average, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. 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 is presently 221.99%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on CCI shares. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. 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 research report on Thursday, July 25th. Bank of America upped their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Twelve research 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 an average target price of $116.47.

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.