Thompson Siegel & Walmsley LLC Sells 227,131 Shares of Crown Castle Inc. (NYSE:CCI)

Thompson Siegel & Walmsley LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 75.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,228 shares of the real estate investment trust’s stock after selling 227,131 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Crown Castle were worth $8,806,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CCI. Intech Investment Management LLC purchased a new position in Crown Castle in the 3rd quarter worth about $518,000. King Luther Capital Management Corp grew its stake in shares of Crown Castle by 7.9% in the third quarter. King Luther Capital Management Corp now owns 6,043 shares of the real estate investment trust’s stock worth $717,000 after acquiring an additional 441 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Crown Castle by 2,706.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,563 shares of the real estate investment trust’s stock valued at $12,523,000 after purchasing an additional 101,801 shares during the last quarter. NS Partners Ltd lifted its position in Crown Castle by 1.7% during the third quarter. NS Partners Ltd now owns 156,519 shares of the real estate investment trust’s stock valued at $18,568,000 after purchasing an additional 2,680 shares during the period. Finally, Commerce Bank boosted its holdings in Crown Castle by 9.3% in the third quarter. Commerce Bank now owns 60,372 shares of the real estate investment trust’s stock worth $7,162,000 after purchasing an additional 5,162 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CCI shares. Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. UBS Group raised their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target 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, October 18th. TD Cowen dropped their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Stock Up 0.2 %

Shares of CCI opened at $104.61 on Friday. 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 stock has a market capitalization of $45.47 billion, a price-to-earnings ratio of 37.10 and a beta of 0.86. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The business’s 50 day simple moving average is $110.87 and its 200-day simple moving average is $106.69.

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 the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the company posted $1.77 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.98%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.