Rockefeller Capital Management L.P. lowered its stake in Crown Castle Inc. (NYSE:CCI – Free Report) by 8.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,110 shares of the real estate investment trust’s stock after selling 14,714 shares during the period. Rockefeller Capital Management L.P.’s holdings in Crown Castle were worth $18,994,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC bought a new stake in Crown Castle in the third quarter valued at $25,000. Asset Dedication LLC boosted its holdings in 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 acquiring an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton boosted its holdings in Crown Castle by 107.9% in 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 in the last quarter. ORG Partners LLC bought a new stake in Crown Castle in the second quarter valued at $34,000. Finally, New Millennium Group LLC bought a new stake in shares of Crown Castle during the 2nd quarter valued at $34,000. Institutional investors own 90.77% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Jefferies Financial Group boosted their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. UBS Group boosted their target price 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. Finally, Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $116.87.
Crown Castle Price Performance
Shares of NYSE:CCI opened at $106.25 on Monday. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The business has a 50-day simple moving average of $109.48 and a two-hundred day simple moving average of $107.09. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market cap of $46.18 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86.
Crown Castle (NYSE:CCI – Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 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 period in the previous year, the company earned $1.77 EPS. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s payout ratio is currently 221.99%.
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.
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