Demars Financial Group LLC Reduces Position in Crown Castle Inc. (NYSE:CCI)

Demars Financial Group LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 3.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,530 shares of the real estate investment trust’s stock after selling 100 shares during the period. Demars Financial Group LLC’s holdings in Crown Castle were worth $300,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of CCI. Quent Capital LLC lifted its stake in Crown Castle by 10.9% during the 1st quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock valued at $248,000 after acquiring an additional 231 shares during the period. Geneos Wealth Management Inc. lifted its stake in Crown Castle by 44.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,542 shares of the real estate investment trust’s stock valued at $163,000 after acquiring an additional 472 shares during the period. SG Americas Securities LLC lifted its stake in shares of Crown Castle by 253.5% in the 1st quarter. SG Americas Securities LLC now owns 57,935 shares of the real estate investment trust’s stock valued at $6,131,000 after purchasing an additional 41,546 shares during the period. Forsta AP Fonden lifted its stake in shares of Crown Castle by 8.6% in the 1st quarter. Forsta AP Fonden now owns 144,500 shares of the real estate investment trust’s stock valued at $15,292,000 after purchasing an additional 11,500 shares during the period. Finally, Tectonic Advisors LLC lifted its stake in shares of Crown Castle by 12.1% in the 1st quarter. Tectonic Advisors LLC now owns 5,265 shares of the real estate investment trust’s stock valued at $557,000 after purchasing an additional 567 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CCI shares. Barclays upped their target price on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. BMO Capital Markets boosted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Wells Fargo & Company upped their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Finally, TD Cowen decreased their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $116.87.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.64 on Friday, hitting $105.85. The company’s stock had a trading volume of 1,606,701 shares, compared to its average volume of 2,615,328. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a fifty day moving average price of $113.12 and a 200-day moving average price of $106.15. The company has a market capitalization of $46.00 billion, a P/E ratio of 37.55 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the firm posted $1.77 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.91%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

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.