Private Trust Co. NA Sells 466 Shares of Crown Castle Inc. (NYSE:CCI)

Private Trust Co. NA lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 12.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,138 shares of the real estate investment trust’s stock after selling 466 shares during the quarter. Private Trust Co. NA’s holdings in Crown Castle were worth $372,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Pinnacle Bancorp Inc. grew its position in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares during the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares in the last quarter. Prosperity Consulting Group LLC grew its holdings in shares of Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 95 shares during the last quarter. True North Advisors LLC increased its stake in shares of Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 95 shares during the period. Finally, Granite Investment Partners LLC raised its holdings in Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

CCI stock opened at $106.69 on Thursday. 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 cap of $46.37 billion, a PE ratio of 37.83 and a beta of 0.86. The business has a 50 day moving average of $109.83 and a 200-day moving average of $106.98. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI) last released its earnings results 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 business had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. Crown Castle’s payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research reports. Royal Bank of Canada boosted their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Barclays increased their price objective on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Hold” and an average target price of $116.87.

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.