Crown Castle Inc. (NYSE:CCI) Shares Sold by Grassi Investment Management

Grassi Investment Management reduced its stake in Crown Castle Inc. (NYSE:CCI) by 33.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,899 shares of the real estate investment trust’s stock after selling 5,520 shares during the period. Grassi Investment Management’s holdings in Crown Castle were worth $989,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Nordea Investment Management AB lifted its stake in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Van ECK Associates Corp lifted its stake in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after purchasing an additional 31,319 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the last quarter. Citizens Business Bank acquired a new stake in Crown Castle during the third quarter valued at approximately $620,000. Finally, State Street Corp lifted its stake in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of NYSE CCI traded up $1.32 during trading hours on Monday, hitting $85.65. 2,147,897 shares of the stock were exchanged, compared to its average volume of 2,785,255. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company’s 50 day moving average is $98.47 and its 200 day moving average is $105.97. The firm has a market capitalization of $37.22 billion, a P/E ratio of 30.37 and a beta of 0.87. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company posted $1.77 earnings per share. Crown Castle’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.31%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. UBS Group boosted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group boosted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $113.00.

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.