Crown Castle Inc. (NYSE:CCI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 26.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 298,508 shares of the real estate investment trust’s stock after selling 109,267 shares during the quarter. New York State Common Retirement Fund’s holdings in Crown Castle were worth $35,412,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Hills Bank & Trust Co acquired a new stake in shares of Crown Castle during the 3rd quarter worth about $109,000. Stephens Inc. AR boosted its stake in Crown Castle by 11.3% during the third quarter. Stephens Inc. AR now owns 75,648 shares of the real estate investment trust’s stock worth $8,974,000 after buying an additional 7,702 shares during the period. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Financial Advocates Investment Management raised its stake in shares of Crown Castle by 3.7% in the 3rd quarter. Financial Advocates Investment Management now owns 4,967 shares of the real estate investment trust’s stock valued at $589,000 after acquiring an additional 176 shares during the period. Finally, Oak Harvest Investment Services purchased a new position in shares of Crown Castle during the 3rd quarter worth approximately $1,542,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.8 %

Shares of NYSE CCI opened at $106.58 on Friday. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The company has a market capitalization of $46.32 billion, a price-to-earnings ratio of 37.79 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The business has a 50-day moving average of $113.78 and a two-hundred day moving average of $105.82.

Crown Castle (NYSE:CCI) last posted 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 revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.77 EPS. On average, analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.87%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

A number of analysts have issued reports on CCI shares. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Bank of America raised their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Barclays boosted their price target on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday. UBS Group raised their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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.