Sanctuary Advisors LLC Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Sanctuary Advisors LLC lessened its position in Crown Castle Inc. (NYSE:CCI) by 35.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 77,197 shares of the real estate investment trust’s stock after selling 42,796 shares during the quarter. Sanctuary Advisors LLC’s holdings in Crown Castle were worth $9,158,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the last quarter. Fisher Asset Management LLC raised its position in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after buying an additional 203,442 shares during the last quarter. Citizens Business Bank purchased a new position in shares of Crown Castle in the third quarter worth about $620,000. Quest Partners LLC boosted its position in Crown Castle by 3,111.6% during the third 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 during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Crown Castle by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock valued at $125,665,000 after acquiring an additional 77,135 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 0.1 %

NYSE:CCI opened at $97.11 on Friday. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s fifty day moving average is $106.57 and its two-hundred day moving average is $107.14. The stock has a market capitalization of $42.20 billion, a price-to-earnings ratio of 34.44 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. Research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.45%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. Barclays upped their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, TD Cowen cut their price objective 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $117.00.

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.