Graypoint LLC Sells 204 Shares of Crown Castle Inc. (NYSE:CCI)

Graypoint LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,881 shares of the real estate investment trust’s stock after selling 204 shares during the quarter. Graypoint LLC’s holdings in Crown Castle were worth $261,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of CCI. Acadian Asset Management LLC bought a new position in Crown Castle in the second quarter valued at about $1,203,000. Quest Partners LLC raised its position in Crown Castle by 3,672.7% in the second quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after purchasing an additional 404 shares during the last quarter. Meeder Advisory Services Inc. raised its position in Crown Castle by 32.9% in the second quarter. Meeder Advisory Services Inc. now owns 6,427 shares of the real estate investment trust’s stock valued at $628,000 after purchasing an additional 1,592 shares during the last quarter. Thoroughbred Financial Services LLC bought a new position in Crown Castle in the second quarter valued at about $236,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Crown Castle by 52.8% during the second quarter. Oppenheimer Asset Management Inc. now owns 127,739 shares of the real estate investment trust’s stock worth $12,480,000 after acquiring an additional 44,161 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the subject of a number of analyst reports. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. raised their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. UBS Group raised their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $113.93.

Crown Castle Trading Down 3.6 %

NYSE CCI opened at $84.31 on Monday. The company has a market cap of $36.64 billion, a price-to-earnings ratio of 29.90 and a beta of 0.87. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The business has a 50 day moving average price of $98.47 and a 200-day moving average price of $105.97. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

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). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.42%. Crown Castle’s dividend payout ratio 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.