Crown Castle Inc. (NYSE:CCI) Shares Sold by Rossmore Private Capital

Rossmore Private Capital cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,089 shares of the real estate investment trust’s stock after selling 492 shares during the period. Rossmore Private Capital’s holdings in Crown Castle were worth $1,508,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Crown Castle by 42.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after purchasing an additional 2,121,603 shares in the last quarter. Barclays PLC grew its position in shares of Crown Castle by 217.9% during the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock worth $281,439,000 after buying an additional 2,096,272 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Crown Castle by 21.9% in the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after buying an additional 1,818,910 shares during the last quarter. FMR LLC raised its holdings in Crown Castle by 14.3% in the third quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after acquiring an additional 1,496,330 shares in the last quarter. Finally, Morgan Stanley raised its holdings in Crown Castle by 8.9% in the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after acquiring an additional 1,064,382 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCI. Bank of America dropped their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Jefferies Financial Group lowered their price objective on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Wells Fargo & Company cut their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday, April 19th. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Finally, Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $112.64.

Crown Castle Price Performance

Shares of NYSE CCI opened at $99.51 on Friday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a market capitalization of $43.24 billion, a PE ratio of 31.10, a P/E/G ratio of 2.65 and a beta of 0.76. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The business’s fifty day moving average price is $101.34 and its two-hundred day moving average price is $105.62.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The firm’s revenue was down 7.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.91 EPS. On average, research analysts expect that Crown Castle Inc. will post 6.58 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.29%. Crown Castle’s dividend payout ratio is presently 195.63%.

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.