BNP Paribas Financial Markets Reduces Position in Crown Castle Inc. (NYSE:CCI)

BNP Paribas Financial Markets cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 8.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 565,276 shares of the real estate investment trust’s stock after selling 52,946 shares during the period. BNP Paribas Financial Markets owned approximately 0.13% of Crown Castle worth $67,059,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Catalyst Capital Advisors LLC bought a new position in Crown Castle in the third quarter valued at about $25,000. Rosenberg Matthew Hamilton lifted its holdings in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares during the period. Asset Dedication LLC lifted its holdings in 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 acquiring an additional 167 shares during the period. Beacon Capital Management LLC lifted its holdings in 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 acquiring an additional 177 shares during the period. Finally, New Millennium Group LLC bought a new position in Crown Castle in the second quarter valued at about $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.4 %

Shares of Crown Castle stock opened at $106.69 on Thursday. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. 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 business has a 50-day moving average price of $109.83 and a 200-day moving average price of $106.98. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 37.83 and a beta of 0.86.

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

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on CCI shares. TD Cowen lowered their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Barclays increased their target price on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $116.87.

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.