Thompson Siegel & Walmsley LLC Sells 227,131 Shares of Crown Castle Inc. (NYSE:CCI)

Thompson Siegel & Walmsley LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 75.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 74,228 shares of the real estate investment trust’s stock after selling 227,131 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Crown Castle were worth $8,806,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle in the 3rd quarter worth about $25,000. EntryPoint Capital LLC purchased a new stake in Crown Castle in the first quarter worth approximately $27,000. Asset Dedication LLC grew its position in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CCI shares. Wells Fargo & Company increased their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. TD Cowen reduced their price objective 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 boosted their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Bank of America boosted their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Performance

Crown Castle stock opened at $104.61 on Friday. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The stock’s 50 day simple moving average is $110.87 and its two-hundred day simple moving average is $106.69. 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 cap of $45.47 billion, a price-to-earnings ratio of 37.10 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.98%. Crown Castle’s payout ratio is 221.99%.

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.