Castleview Partners LLC Reduces Stake in Crown Castle Inc. (NYSE:CCI)

Castleview Partners LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 34.4% during the third quarter, Holdings Channel reports. The firm owned 286 shares of the real estate investment trust’s stock after selling 150 shares during the quarter. Castleview Partners LLC’s holdings in Crown Castle were worth $34,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CCI. Pinnacle Bancorp Inc. boosted its position in shares of Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 90 shares in the last quarter. Pathway Financial Advisers LLC grew its position in shares of Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares during the last quarter. Prosperity Consulting Group LLC increased its stake in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares in the last quarter. True North Advisors LLC raised its position in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its stake in Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 1.9 %

CCI stock opened at $110.19 on Tuesday. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $47.89 billion, a price-to-earnings ratio of 39.07 and a beta of 0.85. The business has a fifty day simple moving average of $114.02 and a 200-day simple moving average of $105.20. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results 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). The firm 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.77 earnings per share. On average, equities research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.68%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. BMO Capital Markets upped their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Wells Fargo & Company raised their price target on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday. Finally, TD Cowen cut their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target 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.