MetLife Investment Management LLC Sells 2,902 Shares of Crown Castle Inc. (NYSE:CCI)

MetLife Investment Management LLC lowered its position in Crown Castle Inc. (NYSE:CCI) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 112,997 shares of the real estate investment trust’s stock after selling 2,902 shares during the period. MetLife Investment Management LLC’s holdings in Crown Castle were worth $13,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Crown Castle by 0.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 833,833 shares of the real estate investment trust’s stock worth $98,918,000 after buying an additional 2,833 shares during the period. Townsquare Capital LLC increased its stake in Crown Castle by 25.9% in the third quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock worth $694,000 after purchasing an additional 1,203 shares during the period. Avestar Capital LLC lifted its position in shares of Crown Castle by 14.9% during the third quarter. Avestar Capital LLC now owns 2,786 shares of the real estate investment trust’s stock worth $331,000 after purchasing an additional 361 shares during the last quarter. Brooklyn Investment Group boosted its stake in shares of Crown Castle by 95.5% during the third quarter. Brooklyn Investment Group now owns 3,880 shares of the real estate investment trust’s stock valued at $460,000 after purchasing an additional 1,895 shares during the period. Finally, D.A. Davidson & CO. grew its holdings in shares of Crown Castle by 4.9% in the third quarter. D.A. Davidson & CO. now owns 20,478 shares of the real estate investment trust’s stock worth $2,429,000 after purchasing an additional 960 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.4 %

NYSE:CCI opened at $106.69 on Thursday. The company’s 50-day simple moving average is $109.83 and its 200-day simple moving average is $106.98. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The stock has a market capitalization of $46.37 billion, a P/E ratio of 37.83 and a beta of 0.86.

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). The firm had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 EPS. On average, equities analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. TD Cowen decreased their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Wells Fargo & Company raised their target price on shares of Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Friday, October 18th. Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Finally, Jefferies Financial Group upped their target price 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 given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.87.

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.