Tectonic Advisors LLC Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Tectonic Advisors LLC cut its holdings in Crown Castle Inc. (NYSE:CCI) by 43.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,111 shares of the real estate investment trust’s stock after selling 2,357 shares during the period. Tectonic Advisors LLC’s holdings in Crown Castle were worth $369,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its position in shares of Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the last quarter. Pathway Financial Advisers LLC grew its holdings in Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the last quarter. Prosperity Consulting Group LLC increased its position in Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after buying an additional 95 shares in the last quarter. True North Advisors LLC raised its holdings in shares of Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its position in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group raised their target price on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, October 17th. Finally, BMO Capital Markets lifted their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $116.47.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $108.91 on Friday. The business has a 50-day moving average of $114.05 and a two-hundred day moving average of $105.41. The firm has a market capitalization of $47.33 billion, a PE ratio of 38.62 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle Inc. has a 12 month low of $87.38 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI) last posted its earnings results 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 last year, the company posted $1.77 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts forecast that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.75%. Crown Castle’s dividend payout ratio is currently 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.