Bank of Montreal Can Sells 512,018 Shares of Crown Castle Inc. (NYSE:CCI)

Bank of Montreal Can cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 25.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,520,503 shares of the real estate investment trust’s stock after selling 512,018 shares during the period. Bank of Montreal Can owned about 0.35% of Crown Castle worth $177,306,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CCI. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC lifted its stake in Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares during the last quarter. Prosperity Consulting Group LLC boosted its holdings in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 95 shares in the last quarter. True North Advisors LLC increased its holdings in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC increased its stake in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.6 %

CCI opened at $106.08 on Tuesday. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The firm has a market capitalization of $46.10 billion, a P/E ratio of 37.62 and a beta of 0.86. The company’s 50-day moving average is $110.32 and its 200 day moving average is $106.94. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its 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 firm had revenue of $1.65 billion for 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%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.77 EPS. Research analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.90%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

Several research firms have issued reports on CCI. Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. Barclays increased their price target on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Jefferies Financial Group upped their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $116.87.

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.