KG&L Capital Management LLC Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

KG&L Capital Management LLC lessened its position in Crown Castle Inc. (NYSE:CCI) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,307 shares of the real estate investment trust’s stock after selling 525 shares during the quarter. KG&L Capital Management LLC’s holdings in Crown Castle were worth $511,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BOKF NA raised its holdings in shares of Crown Castle by 25.6% in the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after purchasing an additional 8,346 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Crown Castle by 21.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock worth $54,816,000 after purchasing an additional 91,404 shares in the last quarter. Russell Investments Group Ltd. grew its stake in Crown Castle by 64.5% during the 1st quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust’s stock worth $66,402,000 after purchasing an additional 246,043 shares in the last quarter. Finally, OLD National Bancorp IN grew its stake in Crown Castle by 23.8% during the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock worth $8,902,000 after purchasing an additional 17,529 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CCI. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets boosted their target price on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Finally, Royal Bank of Canada increased their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Stock Down 0.8 %

Shares of NYSE:CCI opened at $106.58 on Monday. The company has a market capitalization of $46.32 billion, a PE ratio of 37.79 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The firm has a 50 day simple moving average of $113.78 and a 200-day simple moving average of $105.91.

Crown Castle (NYSE:CCI) last released its quarterly earnings results 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter last year, the company earned $1.77 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.87%. 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.