River Road Asset Management LLC Sells 2,246 Shares of Crown Castle Inc. (NYSE:CCI)

River Road Asset Management LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 3.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,820 shares of the real estate investment trust’s stock after selling 2,246 shares during the quarter. River Road Asset Management LLC’s holdings in Crown Castle were worth $7,096,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of CCI. BOKF NA raised its holdings in Crown Castle by 25.6% during the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the period. O Shaughnessy Asset Management LLC raised its holdings in Crown Castle by 30.4% during the first quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock valued at $3,789,000 after acquiring an additional 8,346 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in Crown Castle by 21.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock valued at $54,816,000 after acquiring an additional 91,404 shares during the period. Russell Investments Group Ltd. raised its holdings in Crown Castle by 64.5% during the first quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust’s stock valued at $66,402,000 after acquiring an additional 246,043 shares during the period. Finally, OLD National Bancorp IN raised its holdings in Crown Castle by 23.8% during the second quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after acquiring an additional 17,529 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 0.3 %

Shares of NYSE:CCI opened at $108.71 on Wednesday. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The business has a 50 day simple moving average of $113.59 and a two-hundred day simple moving average of $106.11. The firm has a market capitalization of $47.25 billion, a PE ratio of 38.55 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 0.54.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the firm earned $1.77 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lifted their target price on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. UBS Group lifted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $116.87.

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.