Sara Bay Financial Has $613,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Sara Bay Financial lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 19.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,826 shares of the real estate investment trust’s stock after selling 1,617 shares during the period. Sara Bay Financial’s holdings in Crown Castle were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp increased its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after buying an additional 151,990 shares in the last quarter. Legal & General Group Plc grew its stake in shares of Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after buying an additional 67,072 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after buying an additional 348,296 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on CCI shares. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $117.00 to $104.00 in a research note on Monday, January 13th. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $105.00 to $100.00 in a research note on Tuesday, December 10th. Finally, Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $113.00.

Crown Castle Trading Up 0.4 %

CCI stock traded up $0.38 during midday trading on Friday, reaching $91.03. The stock had a trading volume of 4,990,378 shares, compared to its average volume of 3,430,232. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The business has a fifty day simple moving average of $96.96 and a two-hundred day simple moving average of $105.57. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The company had revenue of $1.65 billion for 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%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.77 earnings per share. As a group, research analysts expect that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.88%. Crown Castle’s payout ratio is currently 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.