Crown Castle Inc. (NYSE:CCI) Shares Sold by Citizens Business Bank

Citizens Business Bank cut its holdings in Crown Castle Inc. (NYSE:CCI) by 30.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,874 shares of the real estate investment trust’s stock after selling 802 shares during the quarter. Citizens Business Bank’s holdings in Crown Castle were worth $216,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Operose Advisors LLC acquired a new position in Crown Castle in the 3rd quarter valued at about $30,000. Valley National Advisers Inc. raised its stake in shares of Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. HHM Wealth Advisors LLC lifted its holdings in shares of Crown Castle by 154.8% during the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares during the period. Rosenberg Matthew Hamilton grew its position in Crown Castle by 43.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 113 shares during the last quarter. Finally, Larson Financial Group LLC increased its stake in Crown Castle by 123.3% in the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock valued at $44,000 after buying an additional 265 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Royal Bank of Canada lifted their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Bank of America reduced their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Barclays upped their price objective on Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 23rd. Finally, Scotiabank reduced their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Eleven analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.29.

Crown Castle Price Performance

NYSE:CCI traded down $1.53 during mid-day trading on Tuesday, hitting $93.79. 4,982,636 shares of the company’s stock traded hands, compared to its average volume of 2,862,806. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $123.31. The company has a market cap of $40.75 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.49 and a beta of 0.73. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The firm’s 50 day simple moving average is $103.39 and its 200 day simple moving average is $105.42.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.91 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.67%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

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.