Crown Castle Inc. (NYSE:CCI) Shares Sold by Huntington National Bank

Huntington National Bank trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 9.3% during the third quarter, Holdings Channel.com reports. The fund owned 112,448 shares of the real estate investment trust’s stock after selling 11,486 shares during the period. Huntington National Bank’s holdings in Crown Castle were worth $13,340,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC purchased a new position in Crown Castle during the 3rd quarter valued at about $25,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC grew its holdings in shares of 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 purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC increased 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 worth $30,000 after buying an additional 177 shares during the period. Finally, Rosenberg Matthew Hamilton lifted its holdings in Crown Castle by 107.9% during the 3rd 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCI has been the topic of several analyst reports. Wells Fargo & Company increased 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 increased their price target on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. TD Cowen lowered their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. BMO Capital Markets upped their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Finally, UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Up 0.1 %

CCI opened at $102.90 on Friday. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $44.72 billion, a P/E ratio of 36.49 and a beta of 0.86. The business’s 50-day simple moving average is $112.51 and its 200-day simple moving average is $106.41.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate 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 company’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. Analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.08%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.