Crown Castle Inc. (NYSE:CCI) Shares Sold by Golden State Equity Partners

Golden State Equity Partners decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,024 shares of the real estate investment trust’s stock after selling 1,410 shares during the period. Golden State Equity Partners’ holdings in Crown Castle were worth $694,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Morgan Stanley grew its position in Crown Castle by 8.9% in the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after buying an additional 1,064,382 shares in the last quarter. FMR LLC lifted its position in shares of Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after purchasing an additional 1,496,330 shares in the last quarter. Wellington Management Group LLP raised its position in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after acquiring an additional 1,818,910 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after acquiring an additional 2,121,603 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Crown Castle by 2.9% in the third quarter. Legal & General Group Plc now owns 5,568,481 shares of the real estate investment trust’s stock valued at $512,467,000 after purchasing an additional 155,543 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.7 %

NYSE:CCI traded down $0.63 during trading hours on Friday, reaching $93.58. 2,697,322 shares of the stock were exchanged, compared to its average volume of 2,940,738. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $123.79. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The firm has a 50 day moving average of $103.65 and a 200 day moving average of $105.25. The stock has a market cap of $40.66 billion, a PE ratio of 29.24, a PEG ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last released its quarterly 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 return on equity of 21.30% and a net margin of 20.32%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period last year, the company earned $1.91 EPS. The company’s revenue was down 7.4% compared to the same quarter last year. On average, equities analysts expect that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Barclays upped their price target on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday. Scotiabank lowered their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets lowered their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research note on Thursday, April 18th. Finally, Jefferies Financial Group lowered their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $113.29.

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.