Crown Castle Inc. (NYSE:CCI) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 15.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 711,335 shares of the real estate investment trust’s stock after selling 128,827 shares during the period. Citigroup Inc.’s holdings in Crown Castle were worth $84,386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CCI. Van ECK Associates Corp raised its stake in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. BOKF NA raised its holdings in shares of 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 buying an additional 815 shares during the period. Quest Partners LLC lifted its position in Crown Castle by 3,111.6% during the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock worth $1,581,000 after acquiring an additional 12,913 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Crown Castle by 7.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock worth $125,665,000 after acquiring an additional 77,135 shares during the period. Finally, OLD National Bancorp IN boosted its stake in shares of Crown Castle by 23.8% in the second quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after purchasing an additional 17,529 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.9 %

Shares of NYSE CCI opened at $105.42 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The business has a 50-day moving average price of $110.60 and a two-hundred day moving average price of $106.75. The firm has a market capitalization of $45.81 billion, a PE ratio of 37.38 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted 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 company 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 for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. As a group, analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.94%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Jefferies Financial Group raised their target price on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Barclays upped their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. TD Cowen lowered their target price on 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 boosted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $116.87.

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.