US Bancorp DE Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

US Bancorp DE lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 94,200 shares of the real estate investment trust’s stock after selling 1,040 shares during the quarter. US Bancorp DE’s holdings in Crown Castle were worth $11,175,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CCI. BOKF NA lifted its position in Crown Castle by 25.6% in the first quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 815 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Crown Castle by 21.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock worth $54,816,000 after buying an additional 91,404 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of Crown Castle by 64.5% in the first quarter. Russell Investments Group Ltd. now owns 627,544 shares of the real estate investment trust’s stock valued at $66,402,000 after acquiring an additional 246,043 shares during the period. Finally, OLD National Bancorp IN grew its position in shares of Crown Castle by 23.8% during the second quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock worth $8,902,000 after acquiring an additional 17,529 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. TD Cowen lowered their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Bank of America boosted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Jefferies Financial Group increased their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and an average price target of $116.87.

Crown Castle Price Performance

CCI stock opened at $106.58 on Friday. The company has a market cap of $46.32 billion, a price-to-earnings ratio of 37.79 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. The firm has a 50 day moving average of $113.78 and a 200-day moving average of $105.82. Crown Castle Inc. has a 12-month low of $92.48 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 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 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 firm 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, equities analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) 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.