LDR Capital Management LLC Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

LDR Capital Management LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.9% in the third quarter, Holdings Channel.com reports. The firm owned 16,974 shares of the real estate investment trust’s stock after selling 1,060 shares during the period. Crown Castle comprises approximately 2.2% of LDR Capital Management LLC’s investment portfolio, making the stock its 20th largest position. LDR Capital Management LLC’s holdings in Crown Castle were worth $2,014,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Foundations Investment Advisors LLC grew its holdings in Crown Castle by 20.7% during the 3rd quarter. Foundations Investment Advisors LLC now owns 33,943 shares of the real estate investment trust’s stock valued at $4,027,000 after purchasing an additional 5,812 shares in the last quarter. Whittier Trust Co. grew its holdings in Crown Castle by 16.2% during the 3rd quarter. Whittier Trust Co. now owns 2,178 shares of the real estate investment trust’s stock worth $258,000 after acquiring an additional 303 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Crown Castle by 0.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 51,962 shares of the real estate investment trust’s stock worth $6,164,000 after acquiring an additional 426 shares in the last quarter. OLD National Bancorp IN grew its holdings in Crown Castle by 6.3% during the 3rd quarter. OLD National Bancorp IN now owns 96,842 shares of the real estate investment trust’s stock worth $11,488,000 after acquiring an additional 5,724 shares in the last quarter. Finally, New Century Financial Group LLC grew its holdings in Crown Castle by 4.8% during the 3rd quarter. New Century Financial Group LLC now owns 2,645 shares of the real estate investment trust’s stock worth $314,000 after acquiring an additional 122 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI opened at $110.19 on Tuesday. The company’s 50 day moving average price is $114.02 and its 200 day moving average price is $105.20. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92. The company has a market capitalization of $47.89 billion, a PE ratio of 39.07 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 earnings per share. Research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of 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 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. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Bank of America lifted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $116.47.

Crown Castle Company 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.