Raleigh Capital Management Inc. Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

Raleigh Capital Management Inc. trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 17.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,166 shares of the real estate investment trust’s stock after selling 461 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Crown Castle were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Whittier Trust Co. boosted its stake in Crown Castle by 16.2% during the third quarter. Whittier Trust Co. now owns 2,178 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 303 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Crown Castle by 0.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 51,962 shares of the real estate investment trust’s stock worth $6,164,000 after buying an additional 426 shares during the period. OLD National Bancorp IN lifted its position in shares of Crown Castle by 6.3% during the third quarter. OLD National Bancorp IN now owns 96,842 shares of the real estate investment trust’s stock worth $11,488,000 after purchasing an additional 5,724 shares during the last quarter. New Century Financial Group LLC lifted its position in shares of Crown Castle by 4.8% during the third quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock worth $314,000 after purchasing an additional 122 shares during the last quarter. Finally, Ferguson Wellman Capital Management Inc. lifted its position in shares of Crown Castle by 83.5% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 384,805 shares of the real estate investment trust’s stock worth $45,649,000 after purchasing an additional 175,086 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of CCI stock opened at $109.77 on Wednesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The firm has a market capitalization of $47.70 billion, a price-to-earnings ratio of 38.93 and a beta of 0.85. 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 stock’s 50-day simple moving average is $114.01 and its 200-day simple moving average is $105.26.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results 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 business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. As a group, equities analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.70%. Crown Castle’s dividend payout ratio is presently 221.99%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Royal Bank of Canada lifted their target price on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. The Goldman Sachs Group lifted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. Finally, Wells Fargo & Company lifted their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus 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.