PFG Investments LLC Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

PFG Investments LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 11.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,526 shares of the real estate investment trust’s stock after selling 341 shares during the quarter. PFG Investments LLC’s holdings in Crown Castle were worth $300,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Daiwa Securities Group Inc. raised its holdings in Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares in the last quarter. M&G Plc acquired a new stake in Crown Castle in the first quarter valued at $221,573,000. Bank of Montreal Can raised its holdings in Crown Castle by 191.7% in the second quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after acquiring an additional 1,335,644 shares in the last quarter. Cooke & Bieler LP raised its holdings in Crown Castle by 95.8% in the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after acquiring an additional 1,261,536 shares in the last quarter. Finally, Capital International Investors raised its holdings in shares of Crown Castle by 68,262.1% during the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after purchasing an additional 1,238,274 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $107.81 on Thursday. The firm has a 50-day moving average price of $113.93 and a 200 day moving average price of $105.65. The firm has a market capitalization of $46.85 billion, a PE ratio of 38.23 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52-week low of $90.81 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last announced 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). The company had revenue of $1.65 billion during 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 business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.81%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BMO Capital Markets increased their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. UBS Group increased their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, The Goldman Sachs Group increased their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $116.80.

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.