Crown Castle Inc. (NYSE:CCI) Holdings Trimmed by Foresight Group Ltd Liability Partnership

Foresight Group Ltd Liability Partnership lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 26.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,680 shares of the real estate investment trust’s stock after selling 32,339 shares during the quarter. Crown Castle makes up about 4.7% of Foresight Group Ltd Liability Partnership’s holdings, making the stock its 8th largest position. Foresight Group Ltd Liability Partnership’s holdings in Crown Castle were worth $7,958,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CCI. State Street Corp grew its position in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC increased its position in Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares during the period. Legal & General Group Plc raised its stake in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares during the last quarter. Finally, Barclays PLC lifted its position in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI opened at $90.67 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $39.40 billion, a PE ratio of 32.15 and a beta of 0.87. The company’s 50 day simple moving average is $97.23 and its 200 day simple moving average is $105.67. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last announced 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 return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same period last year, the company posted $1.77 earnings per share. The firm’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 6.67 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. UBS Group increased their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a report on Monday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.00.

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.