Vontobel Holding Ltd. Sells 133 Shares of Crown Castle Inc. (NYSE:CCI)

Vontobel Holding Ltd. cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.4% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,489 shares of the real estate investment trust’s stock after selling 133 shares during the period. Vontobel Holding Ltd.’s holdings in Crown Castle were worth $651,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. BOKF NA boosted its stake in Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 815 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Crown Castle by 0.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 931,397 shares of the real estate investment trust’s stock valued at $98,570,000 after buying an additional 8,136 shares during the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Crown Castle during the first quarter valued at $4,425,000. O Shaughnessy Asset Management LLC increased its holdings in Crown Castle by 30.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares in the last quarter. Finally, Norden Group LLC purchased a new position in Crown Castle in the 1st quarter worth about $1,804,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.9 %

Shares of NYSE:CCI opened at $110.19 on Tuesday. The stock has a 50 day moving average of $114.02 and a 200 day moving average of $105.20. The company has a market cap of $47.89 billion, a PE ratio of 39.07 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. 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 (NYSE:CCI) last posted 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 firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate 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 for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 earnings per share. As a group, 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 declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.68%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CCI. The Goldman Sachs Group lifted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Barclays lifted their target price on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, BMO Capital Markets increased their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $116.47.

Crown Castle 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.