Crown Castle Inc. (NYSE:CCI) Shares Sold by Crewe Advisors LLC

Crewe Advisors LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 31.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 767 shares of the real estate investment trust’s stock after selling 345 shares during the period. Crewe Advisors LLC’s holdings in Crown Castle were worth $91,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at about $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at about $27,000. Asset Dedication LLC boosted its holdings in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. Beacon Capital Management LLC boosted its holdings in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.9 %

CCI stock opened at $105.44 on Monday. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The company’s 50 day simple moving average is $110.60 and its 200-day simple moving average is $106.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $45.82 billion, a P/E ratio of 37.39 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $1.77 EPS. The firm’s revenue was down .9% compared to the same quarter last year. As a group, equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

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

Analysts Set New Price Targets

CCI has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Bank of America boosted their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group boosted their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. TD Cowen dropped their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Finally, UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $116.87.

About Crown Castle

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.