NorthRock Partners LLC Decreases Stake in Crown Castle Inc. (NYSE:CCI)

NorthRock Partners LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,373 shares of the real estate investment trust’s stock after selling 135 shares during the period. NorthRock Partners LLC’s holdings in Crown Castle were worth $281,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $27,000. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Asset Dedication LLC raised its holdings in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Finally, Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCI. Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. Wells Fargo & Company upped their price objective on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Barclays lifted their target price on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Trading Down 4.8 %

Shares of CCI opened at $103.46 on Thursday. The stock’s 50-day moving average price is $113.39 and its 200 day moving average price is $106.09. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $44.96 billion, a price-to-earnings ratio of 36.69 and a beta of 0.86. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

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 business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.77 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

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.