BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 10,710 Shares of Crown Castle Inc. (NYSE:CCI)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 12.9% during the third quarter, Holdings Channel.com reports. The institutional investor owned 72,508 shares of the real estate investment trust’s stock after selling 10,710 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Crown Castle were worth $8,602,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. increased its position in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC increased its holdings in Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the period. Prosperity Consulting Group LLC increased its holdings in Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares during the period. True North Advisors LLC raised its stake in Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC lifted its holdings in Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 0.4 %

Crown Castle stock opened at $106.25 on Monday. The stock has a 50-day moving average price of $109.48 and a 200 day moving average price of $107.09. The company has a market capitalization of $46.18 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last released 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). The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.77 EPS. Sell-side analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

CCI has been the subject of several recent research reports. UBS Group boosted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research 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 stock a “buy” rating in a report on Thursday, October 17th. Bank of America raised their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price objective 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. Finally, Wells Fargo & Company raised their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Twelve equities 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.com, Crown Castle currently has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Company 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.