First Bank & Trust Sells 1,016 Shares of Crown Castle Inc. (NYSE:CCI)

by · The Cerbat Gem

First Bank & Trust reduced its stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 26.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,884 shares of the real estate investment trust’s stock after selling 1,016 shares during the quarter. First Bank & Trust’s holdings in Crown Castle were worth $342,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Register Financial Advisors LLC bought a new position in Crown Castle during the first quarter valued at about $48,000. Norway Savings Bank increased its position in shares of Crown Castle by 80.1% during the first quarter. Norway Savings Bank now owns 3,810 shares of the real estate investment trust’s stock valued at $403,000 after purchasing an additional 1,695 shares during the period. Financial Management Professionals Inc. raised its stake in shares of Crown Castle by 12.2% in the first quarter. Financial Management Professionals Inc. now owns 2,892 shares of the real estate investment trust’s stock valued at $306,000 after purchasing an additional 314 shares in the last quarter. Fiduciary Alliance LLC lifted its position in Crown Castle by 9.1% in the first quarter. Fiduciary Alliance LLC now owns 87,711 shares of the real estate investment trust’s stock worth $9,145,000 after purchasing an additional 7,283 shares during the period. Finally, Financial Partners Group LLC acquired a new stake in Crown Castle during the first quarter worth $6,612,000. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CCI shares. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. JPMorgan Chase & Co. increased their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. TD Cowen dropped their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, UBS Group boosted their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Twelve investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $116.47.

Get Our Latest Stock Report on CCI

Crown Castle Price Performance

Shares of Crown Castle stock traded down $2.54 during trading on Friday, reaching $108.91. The company’s stock had a trading volume of 1,873,838 shares, compared to its average volume of 2,637,974. The stock has a 50-day moving average price of $114.05 and a two-hundred day moving average price of $105.41. The stock has a market capitalization of $47.33 billion, a P/E ratio of 38.62 and a beta of 0.85. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a one year low of $87.38 and a one year high of $120.92.

Crown Castle (NYSE:CCI – Get Free Report) last announced its earnings results 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the firm posted $1.77 earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.75%. Crown Castle’s payout ratio is 221.99%.

Crown Castle Profile

(Free Report)

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.

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