Commerzbank Aktiengesellschaft FI Sells 6,030 Shares of Crown Castle Inc. (NYSE:CCI)

Commerzbank Aktiengesellschaft FI trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 17.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,007 shares of the real estate investment trust’s stock after selling 6,030 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in Crown Castle were worth $3,323,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Daiwa Securities Group Inc. raised its stake in shares of Crown Castle by 4,097.8% during the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. M&G Plc bought a new position in Crown Castle during the 1st quarter worth $221,573,000. Bank of Montreal Can raised its position in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock worth $195,183,000 after purchasing an additional 1,335,644 shares during the last quarter. Cooke & Bieler LP grew its position in shares of Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after buying an additional 1,261,536 shares during the last quarter. Finally, Capital International Investors increased its stake in shares of Crown Castle by 68,262.1% in the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock valued at $131,239,000 after buying an additional 1,238,274 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Trading Up 0.5 %

CCI opened at $110.28 on Wednesday. The firm has a market capitalization of $47.92 billion, a PE ratio of 38.93 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle Inc. has a fifty-two week low of $86.49 and a fifty-two week high of $120.92. The company’s 50-day moving average is $114.01 and its 200 day moving average is $105.26.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.68%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America upped their target price on 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. lifted their target price 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. The Goldman Sachs Group upped their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Finally, Barclays upped their target price on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $116.47.

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.