Huntington National Bank Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Huntington National Bank lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,448 shares of the real estate investment trust’s stock after selling 11,486 shares during the period. Huntington National Bank’s holdings in Crown Castle were worth $13,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Plato Investment Management Ltd boosted its stake in shares of Crown Castle by 46.1% in the third quarter. Plato Investment Management Ltd now owns 16,684 shares of the real estate investment trust’s stock worth $1,977,000 after buying an additional 5,262 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Crown Castle by 1.8% in the third quarter. Oppenheimer & Co. Inc. now owns 28,657 shares of the real estate investment trust’s stock valued at $3,400,000 after acquiring an additional 499 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Crown Castle by 1.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 129,696 shares of the real estate investment trust’s stock worth $15,386,000 after purchasing an additional 1,957 shares in the last quarter. Barnett & Company Inc. lifted its stake in shares of Crown Castle by 10.5% in the 3rd quarter. Barnett & Company Inc. now owns 11,540 shares of the real estate investment trust’s stock valued at $1,369,000 after purchasing an additional 1,100 shares during the period. Finally, Aptus Capital Advisors LLC increased its position in shares of Crown Castle by 9.3% in the third quarter. Aptus Capital Advisors LLC now owns 3,960 shares of the real estate investment trust’s stock valued at $470,000 after buying an additional 336 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Jefferies Financial Group lifted their target price on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their price target on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, Barclays boosted their price objective on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Trading Up 0.1 %

Shares of CCI stock opened at $102.90 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $92.48 and a twelve month high of $120.92. The company’s 50-day moving average price is $112.51 and its 200-day moving average price is $106.41. The stock has a market cap of $44.72 billion, a price-to-earnings ratio of 36.49 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced 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 yield of 6.08%. Crown Castle’s dividend payout ratio (DPR) 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.