Crown Castle Inc. (NYSE:CCI) Holdings Lowered by Truist Financial Corp

Truist Financial Corp lowered its stake in Crown Castle Inc. (NYSE:CCI) by 24.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 396,653 shares of the real estate investment trust’s stock after selling 127,039 shares during the quarter. Truist Financial Corp owned approximately 0.09% of Crown Castle worth $45,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Asset Management One Co. Ltd. lifted its position in shares of Crown Castle by 6.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 195,439 shares of the real estate investment trust’s stock valued at $17,986,000 after acquiring an additional 11,354 shares in the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Crown Castle by 0.4% in the third quarter. Handelsbanken Fonder AB now owns 201,814 shares of the real estate investment trust’s stock valued at $18,573,000 after purchasing an additional 888 shares in the last quarter. Clarius Group LLC boosted its position in shares of Crown Castle by 25.0% in the third quarter. Clarius Group LLC now owns 4,112 shares of the real estate investment trust’s stock worth $378,000 after buying an additional 823 shares during the period. Trust Co. of Toledo NA OH boosted its position in shares of Crown Castle by 18.2% in the third quarter. Trust Co. of Toledo NA OH now owns 6,255 shares of the real estate investment trust’s stock worth $576,000 after buying an additional 961 shares during the period. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Crown Castle by 122.0% during the third quarter. Valeo Financial Advisors LLC now owns 5,521 shares of the real estate investment trust’s stock valued at $508,000 after buying an additional 3,034 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 0.7 %

Crown Castle stock opened at $93.58 on Friday. Crown Castle Inc. has a one year low of $84.72 and a one year high of $123.79. The company’s fifty day moving average price is $103.65 and its two-hundred day moving average price is $105.34. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40. The company has a market capitalization of $40.66 billion, a price-to-earnings ratio of 29.24, a PEG ratio of 2.49 and a beta of 0.73.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same period in the prior year, the company posted $1.91 EPS. The business’s revenue was down 7.4% on a year-over-year basis. On average, analysts forecast that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend payout ratio is 195.63%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America reduced their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. BMO Capital Markets decreased their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a report on Thursday, April 18th. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Finally, Barclays boosted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.29.

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.