Catalyst Financial Partners LLC Cuts Position in Crown Castle Inc. (NYSE:CCI)

Catalyst Financial Partners LLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,964 shares of the real estate investment trust’s stock after selling 117 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Crown Castle were worth $352,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. EntryPoint Capital LLC purchased a new position in shares of Crown Castle during the 1st quarter valued at approximately $27,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the period. Beacon Capital Management LLC increased its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 177 shares in the last quarter. ORG Partners LLC acquired a new position in shares of Crown Castle during the 2nd quarter worth about $34,000. Finally, New Millennium Group LLC purchased a new position in Crown Castle in the 2nd quarter valued at about $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Down 0.3 %

Shares of Crown Castle stock opened at $107.50 on Friday. The stock has a 50 day moving average of $113.89 and a 200 day moving average of $105.67. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The firm has a market capitalization of $46.72 billion, a price-to-earnings ratio of 38.12 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $90.81 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.82%. Crown Castle’s payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

CCI has been the subject of several research reports. Jefferies Financial Group boosted their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. UBS Group increased their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Finally, The Goldman Sachs Group boosted their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $116.80.

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.