Ninety One UK Ltd Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

Ninety One UK Ltd lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 847,754 shares of the real estate investment trust’s stock after selling 33,983 shares during the quarter. Ninety One UK Ltd owned approximately 0.20% of Crown Castle worth $97,653,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CCI. Moors & Cabot Inc. grew its holdings in Crown Castle by 3.4% during the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Crown Castle by 33.4% during the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock valued at $730,000 after acquiring an additional 991 shares in the last quarter. Loomis Sayles & Co. L P increased its holdings in Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock valued at $1,052,000 after acquiring an additional 5,577 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Crown Castle by 12.3% in the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after purchasing an additional 525 shares in the last quarter. Finally, Covestor Ltd lifted its position in shares of Crown Castle by 205.9% in the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after buying an additional 591 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets decreased their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research report on Thursday. Finally, Jefferies Financial Group lowered their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus target price of $119.40.

Crown Castle Trading Up 0.6 %

CCI stock traded up $0.57 during mid-day trading on Thursday, reaching $93.62. The company had a trading volume of 2,237,156 shares, compared to its average volume of 2,770,607. The firm has a 50 day moving average of $105.41 and a 200 day moving average of $105.15. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $134.09. The company has a market capitalization of $40.68 billion, a PE ratio of 26.74, a price-to-earnings-growth ratio of 2.50 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 21.47% and a return on equity of 21.95%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the firm earned $1.91 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. Crown Castle’s dividend payout ratio is currently 180.92%.

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.