Stock Yards Bank & Trust Co. Sells 575 Shares of Crown Castle Inc. (NYSE:CCI)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,235 shares of the real estate investment trust’s stock after selling 575 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Crown Castle were worth $1,807,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton raised its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Asset Dedication LLC lifted its stake in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the last quarter. New Millennium Group LLC bought a new stake in Crown Castle during the second quarter worth about $34,000. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle in the 2nd quarter worth about $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on CCI shares. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $105.00 to $100.00 in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. The Goldman Sachs Group lifted 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. Finally, Royal Bank of Canada upped their price target 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. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $116.53.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $98.79 on Friday. The business has a 50 day moving average of $107.17 and a 200 day moving average of $107.14. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a market cap of $42.93 billion, a PE ratio of 35.03 and a beta of 0.86. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data 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 company had revenue of $1.65 billion during 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 firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 earnings per share. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.34%. Crown Castle’s dividend payout ratio (DPR) is 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.