Sara Bay Financial Has $613,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Sara Bay Financial cut its holdings in Crown Castle Inc. (NYSE:CCI) by 19.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 6,826 shares of the real estate investment trust’s stock after selling 1,617 shares during the quarter. Sara Bay Financial’s holdings in Crown Castle were worth $613,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its position in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP grew its position in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC lifted its stake 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 in the last quarter. Legal & General Group Plc lifted its stake in Crown Castle by 1.1% in 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 in the last quarter. Finally, Barclays PLC lifted its stake in Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after acquiring an additional 348,296 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI stock traded up $0.38 during trading on Friday, reaching $91.03. 4,990,378 shares of the company’s stock were exchanged, compared to its average volume of 3,430,232. 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 stock has a market capitalization of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The firm’s fifty day moving average price is $96.96 and its 200-day moving average price is $105.57.

Crown Castle (NYSE:CCI) last posted its 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). The business had revenue of $1.65 billion for the quarter, compared to analyst estimates 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 was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.77 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is presently 221.99%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $113.00.

About Crown Castle

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.