Crown Castle Inc. (NYSE:CCI) Stake Lowered by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 25.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,533 shares of the real estate investment trust’s stock after selling 1,925 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Crown Castle were worth $656,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the 3rd quarter worth about $25,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton increased its holdings in Crown Castle by 107.9% in the third 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 during the last quarter. ORG Partners LLC bought a new position in Crown Castle during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new position in Crown Castle during the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 0.4 %

Shares of Crown Castle stock opened at $106.25 on Friday. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The company’s fifty day simple moving average is $109.48 and its 200-day simple moving average is $107.02. The company has a market cap of $46.18 billion, a price-to-earnings ratio of 37.68 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the company earned $1.77 earnings per share. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analyst Weigh In

Several analysts have commented on CCI shares. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Royal Bank of Canada raised their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group boosted their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.