Sanibel Captiva Trust Company Inc. Cuts Position in Crown Castle Inc. (NYSE:CCI)

Sanibel Captiva Trust Company Inc. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 3.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,214 shares of the real estate investment trust’s stock after selling 130 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Crown Castle were worth $381,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. GSA Capital Partners LLP purchased a new position in shares of Crown Castle in the 4th quarter valued at about $2,753,000. Hobbs Group Advisors LLC acquired a new stake in Crown Castle in the 4th quarter worth about $488,000. FIL Ltd boosted its holdings in Crown Castle by 1.4% in the 4th quarter. FIL Ltd now owns 3,528,899 shares of the real estate investment trust’s stock worth $406,494,000 after buying an additional 48,892 shares during the last quarter. Quarry LP boosted its holdings in Crown Castle by 111.5% in the 4th quarter. Quarry LP now owns 459 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 242 shares during the last quarter. Finally, V Square Quantitative Management LLC boosted its holdings in Crown Castle by 39.3% in the 4th quarter. V Square Quantitative Management LLC now owns 6,790 shares of the real estate investment trust’s stock worth $782,000 after buying an additional 1,915 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Up 0.8 %

CCI stock opened at $110.83 on Friday. The firm has a market cap of $48.16 billion, a PE ratio of 34.63 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The firm’s 50 day moving average price is $113.84 and its 200-day moving average price is $104.80. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.05 EPS. On average, equities research analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.65%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Barclays lifted their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a report on Thursday. TD Cowen lifted their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada lifted their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus target price of $115.67.

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.