Sanibel Captiva Trust Company Inc. Sells 130 Shares of Crown Castle Inc. (NYSE:CCI)

Sanibel Captiva Trust Company Inc. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,214 shares of the real estate investment trust’s stock after selling 130 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Crown Castle were worth $381,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CCI. GSA Capital Partners LLP bought a new position in shares of Crown Castle during the fourth quarter valued at approximately $2,753,000. Hobbs Group Advisors LLC purchased a new stake in shares of Crown Castle in the fourth quarter valued at approximately $488,000. FIL Ltd boosted its holdings in shares of Crown Castle by 1.4% in the fourth quarter. FIL Ltd now owns 3,528,899 shares of the real estate investment trust’s stock valued at $406,494,000 after purchasing an additional 48,892 shares during the period. Quarry LP boosted its holdings in shares of Crown Castle by 111.5% in the fourth quarter. Quarry LP now owns 459 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 242 shares during the period. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Crown Castle by 39.3% in the fourth quarter. V Square Quantitative Management LLC now owns 6,790 shares of the real estate investment trust’s stock valued at $782,000 after purchasing an additional 1,915 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI opened at $110.83 on Friday. The business’s 50-day moving average is $113.84 and its two-hundred day moving average is $104.80. The company has a market capitalization of $48.16 billion, a P/E ratio of 34.63 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period last year, the firm earned $2.05 EPS. Research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. TD Cowen boosted their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Raymond James restated an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. BMO Capital Markets upped their target price on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Royal Bank of Canada increased their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. Finally, Barclays increased their price objective on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday. Eleven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $115.67.

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.