Premier Fund Managers Ltd Sells 1,000 Shares of Crown Castle Inc. (NYSE:CCI)

Premier Fund Managers Ltd cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,000 shares of the real estate investment trust’s stock after selling 1,000 shares during the quarter. Premier Fund Managers Ltd’s holdings in Crown Castle were worth $1,166,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the third quarter worth about $25,000. EntryPoint Capital LLC purchased a new stake in Crown Castle during the 1st quarter valued at approximately $27,000. Asset Dedication LLC raised its position in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Bank of America raised their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Jefferies Financial Group increased their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, October 17th. Finally, Barclays lifted 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 investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Down 0.1 %

Shares of CCI opened at $104.45 on Wednesday. The company’s fifty day simple moving average is $111.48 and its 200-day simple moving average is $106.72. The company has a market cap of $45.39 billion, a P/E ratio of 37.04 and a beta of 0.86. 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.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The firm had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend 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.