LDR Capital Management LLC Sells 1,060 Shares of Crown Castle Inc. (NYSE:CCI)

LDR Capital Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,974 shares of the real estate investment trust’s stock after selling 1,060 shares during the period. Crown Castle makes up about 2.2% of LDR Capital Management LLC’s investment portfolio, making the stock its 20th largest holding. LDR Capital Management LLC’s holdings in Crown Castle were worth $2,014,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new stake in Crown Castle during the first quarter valued at about $27,000. Asset Dedication LLC boosted its holdings in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC boosted its holdings in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the period. ORG Partners LLC bought a new position in Crown Castle in the second quarter worth approximately $34,000. Finally, New Millennium Group LLC bought a new position in Crown Castle in the second quarter worth approximately $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Down 1.9 %

Shares of NYSE CCI opened at $110.19 on Tuesday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92. The firm’s 50 day moving average price is $114.02 and its 200 day moving average price is $105.20. The firm has a market cap of $47.89 billion, a P/E ratio of 39.07 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54.

Crown Castle (NYSE:CCI) last posted 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). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the prior year, the business earned $1.77 EPS. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.68%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their price target on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday. Barclays upped their price target on shares of Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. BMO Capital Markets increased their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Crown Castle currently has an average rating of “Hold” and a consensus price target of $116.47.

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.