Pinnacle Financial Partners Inc Decreases Holdings in Crown Castle Inc. (NYSE:CCI)

Pinnacle Financial Partners Inc decreased its stake in Crown Castle Inc. (NYSE:CCI) by 7.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,455 shares of the real estate investment trust’s stock after selling 283 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Crown Castle were worth $410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the third quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $27,000. Rosenberg Matthew Hamilton raised its stake in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. Asset Dedication LLC lifted its holdings in Crown Castle by 159.0% in the 2nd 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 in the last quarter. Finally, Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% during the 1st 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 during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.1 %

Shares of CCI stock opened at $102.90 on Friday. The company has a 50-day moving average of $112.51 and a two-hundred day moving average of $106.41. The firm has a market cap of $44.72 billion, a PE ratio of 36.49 and a beta of 0.86. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

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

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.08%. Crown Castle’s dividend payout ratio is presently 221.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CCI shares. JPMorgan Chase & Co. increased their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Jefferies Financial Group upped their price target on Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Finally, TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $116.87.

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.