Crown Castle Inc. (NYSE:CCI) Stock Position Lowered by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 234,170 shares of the real estate investment trust’s stock after selling 3,456 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Crown Castle were worth $27,780,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. increased its stake in shares of Crown Castle by 2,413.9% in the third quarter. Benjamin Edwards Inc. now owns 11,061 shares of the real estate investment trust’s stock worth $1,312,000 after acquiring an additional 10,621 shares during the last quarter. Kestra Investment Management LLC acquired a new position in Crown Castle in the 3rd quarter worth about $297,000. Lavaca Capital LLC purchased a new stake in shares of Crown Castle during the 3rd quarter worth about $213,000. Erste Asset Management GmbH acquired a new stake in shares of Crown Castle during the 3rd quarter valued at about $1,318,000. Finally, Adelante Capital Management LLC grew its stake in shares of Crown Castle by 207.9% in the 3rd quarter. Adelante Capital Management LLC now owns 44,259 shares of the real estate investment trust’s stock valued at $5,250,000 after buying an additional 29,883 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 0.9 %

CCI opened at $105.30 on Tuesday. The business has a 50 day moving average of $109.48 and a 200-day moving average of $107.09. The stock has a market capitalization of $45.76 billion, a price-to-earnings ratio of 37.34 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 Inc. has a 1-year low of $92.48 and a 1-year high of $120.92.

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 anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 5.94%. Crown Castle’s dividend payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CCI shares. Barclays boosted their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. The Goldman Sachs Group increased their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Wells Fargo & Company boosted their price target on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock 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.