Tevis Investment Management Lowers Position in Crown Castle Inc. (NYSE:CCI)

Tevis Investment Management trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 30.0% during the third quarter, HoldingsChannel reports. The fund owned 6,129 shares of the real estate investment trust’s stock after selling 2,625 shares during the quarter. Tevis Investment Management’s holdings in Crown Castle were worth $727,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCI. Pinnacle Bancorp Inc. raised its stake in shares of Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 90 shares in the last quarter. Pathway Financial Advisers LLC raised its position in Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 91 shares in the last quarter. Prosperity Consulting Group LLC lifted its holdings in Crown Castle by 4.4% in 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 acquiring an additional 95 shares during the period. True North Advisors LLC boosted its position in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after purchasing an additional 95 shares in the last quarter. Finally, Granite Investment Partners LLC grew its stake in shares of Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after purchasing an additional 100 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Crown Castle stock opened at $107.81 on Thursday. The stock has a market capitalization of $46.85 billion, a P/E ratio of 38.23 and a beta of 0.85. Crown Castle Inc. has a 12-month low of $90.81 and a 12-month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The firm’s 50-day moving average is $113.93 and its two-hundred day moving average is $105.65.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion for 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 last year, the business posted $1.77 EPS. Equities analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.81%. Crown Castle’s payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

Several analysts recently commented on CCI shares. The Goldman Sachs Group raised their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets raised their price target on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Twelve 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, the stock has an average rating of “Hold” and a consensus target price of $116.80.

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.