CNB Bank Sells 746 Shares of Crown Castle Inc. (NYSE:CCI)

CNB Bank decreased its position in Crown Castle Inc. (NYSE:CCI) by 19.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,130 shares of the real estate investment trust’s stock after selling 746 shares during the quarter. CNB Bank’s holdings in Crown Castle were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB raised its stake in Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after buying an additional 31,319 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Crown Castle in the 4th quarter worth about $1,231,000. Fisher Asset Management LLC raised its position in shares of Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after buying an additional 203,442 shares in the last quarter. Finally, Citizens Business Bank bought a new position in shares of Crown Castle in the 3rd quarter valued at about $620,000. 90.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CCI has been the topic of several analyst reports. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Price Performance

Shares of CCI stock opened at $91.14 on Friday. 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 company has a market capitalization of $39.61 billion, a P/E ratio of 32.39 and a beta of 0.87. The company’s 50-day simple moving average is $97.23 and its two-hundred day simple moving average is $105.67. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings data 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the business earned $1.77 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.87%. 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.