Crown Castle Inc. (NYSE:CCI) Shares Sold by Horan Capital Advisors LLC.

Horan Capital Advisors LLC. reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,868 shares of the real estate investment trust’s stock after selling 279 shares during the period. Crown Castle accounts for about 1.2% of Horan Capital Advisors LLC.’s portfolio, making the stock its 29th largest holding. Horan Capital Advisors LLC.’s holdings in Crown Castle were worth $3,662,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the third quarter worth approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $27,000. Asset Dedication LLC raised its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its stake in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Barclays raised their target price 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, November 1st. Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lifted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Up 0.8 %

Crown Castle stock opened at $104.59 on Tuesday. The company has a market capitalization of $45.45 billion, a PE ratio of 37.09 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The firm has a 50 day moving average price of $111.79 and a 200 day moving average price of $106.67.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm posted $1.77 earnings per share. The company’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

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.