Partners Group Holding AG Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Partners Group Holding AG cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.4% during the third quarter, Holdings Channel.com reports. The firm owned 347,478 shares of the real estate investment trust’s stock after selling 19,763 shares during the quarter. Crown Castle makes up approximately 2.8% of Partners Group Holding AG’s portfolio, making the stock its 15th biggest position. Partners Group Holding AG’s holdings in Crown Castle were worth $41,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp lifted its holdings in Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares during the last quarter. BOKF NA lifted its position in Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after buying an additional 815 shares during the last quarter. Quest Partners LLC boosted its stake in Crown Castle by 3,111.6% during the third quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock worth $1,581,000 after buying an additional 12,913 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Crown Castle by 7.9% during the third quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock valued at $125,665,000 after acquiring an additional 77,135 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Crown Castle by 2,706.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 105,563 shares of the real estate investment trust’s stock worth $12,523,000 after acquiring an additional 101,801 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently commented on CCI. The Goldman Sachs Group raised their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. UBS Group increased their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company raised their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. Finally, 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 report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Up 0.6 %

Crown Castle stock opened at $106.08 on Tuesday. The stock has a market cap of $46.10 billion, a PE ratio of 37.62 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock’s fifty day moving average is $110.32 and its two-hundred day moving average is $106.94. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last issued 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). The business 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 revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $1.77 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.90%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Crown Castle Company 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.