Crown Castle Inc. (NYSE:CCI) Stake Lowered by Park Place Capital Corp

Park Place Capital Corp reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 34.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,907 shares of the real estate investment trust’s stock after selling 3,171 shares during the period. Park Place Capital Corp’s holdings in Crown Castle were worth $625,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. O Shaughnessy Asset Management LLC boosted its holdings in Crown Castle by 93.5% in the third quarter. O Shaughnessy Asset Management LLC now owns 17,099 shares of the real estate investment trust’s stock worth $1,574,000 after purchasing an additional 8,263 shares in the last quarter. Bank of Nova Scotia boosted its holdings in Crown Castle by 13.6% in the third quarter. Bank of Nova Scotia now owns 41,233 shares of the real estate investment trust’s stock worth $3,795,000 after purchasing an additional 4,937 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Crown Castle by 62.8% in the third quarter. Ancora Advisors LLC now owns 7,682 shares of the real estate investment trust’s stock worth $707,000 after purchasing an additional 2,964 shares in the last quarter. Fred Alger Management LLC boosted its holdings in Crown Castle by 37.7% in the third quarter. Fred Alger Management LLC now owns 44,167 shares of the real estate investment trust’s stock worth $4,065,000 after purchasing an additional 12,092 shares in the last quarter. Finally, Gotham Asset Management LLC boosted its holdings in Crown Castle by 35.3% in the third quarter. Gotham Asset Management LLC now owns 37,696 shares of the real estate investment trust’s stock worth $3,469,000 after purchasing an additional 9,828 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of Crown Castle in a report on Monday. They issued a “neutral” rating and a $104.00 price objective for the company. BMO Capital Markets decreased their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Jefferies Financial Group decreased their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Twelve analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average target price of $113.53.

Crown Castle Price Performance

CCI traded down $1.72 during midday trading on Monday, reaching $95.98. 2,120,439 shares of the company’s stock were exchanged, compared to its average volume of 2,859,854. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. The business has a 50-day simple moving average of $98.42 and a two-hundred day simple moving average of $104.59. The firm has a market capitalization of $41.71 billion, a price-to-earnings ratio of 29.99, a price-to-earnings-growth ratio of 2.59 and a beta of 0.83. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the business earned $1.91 EPS. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, research analysts predict that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.52%. The ex-dividend date was Friday, June 14th. Crown Castle’s payout ratio is 195.63%.

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.