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

Cadence Bank trimmed its position in Crown Castle Inc. (NYSE:CCI) by 6.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,255 shares of the real estate investment trust’s stock after selling 144 shares during the period. Cadence Bank’s holdings in Crown Castle were worth $268,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the third quarter valued at about $25,000. Rosenberg Matthew Hamilton raised its holdings in 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 purchasing an additional 136 shares in the last quarter. Asset Dedication LLC lifted its position 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 purchasing an additional 167 shares during the period. Beacon Capital Management LLC boosted its holdings in Crown Castle by 163.9% in the 1st 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 in the last quarter. Finally, New Millennium Group LLC acquired a new position in Crown Castle during the 2nd quarter worth approximately $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI stock opened at $106.69 on Thursday. The stock’s 50 day moving average price is $109.83 and its 200 day moving average price is $106.98. The firm has a market cap of $46.37 billion, a P/E ratio of 37.83 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92.

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 analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analyst estimates 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 was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.77 earnings per share. On average, sell-side analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

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

Analysts Set New Price Targets

CCI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company raised their target price on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a report on Friday, October 18th. UBS Group upped their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Finally, Jefferies Financial Group upped their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $116.87.

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.