Crown Castle Inc. (NYSE:CCI) Shares Sold by Grassi Investment Management

Grassi Investment Management lessened its stake in Crown Castle Inc. (NYSE:CCI) by 33.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,899 shares of the real estate investment trust’s stock after selling 5,520 shares during the quarter. Grassi Investment Management’s holdings in Crown Castle were worth $989,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares in the last quarter. Quest Partners LLC lifted its holdings in shares of Crown Castle by 3,672.7% during the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock valued at $41,000 after acquiring an additional 404 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle during the 3rd quarter valued at $47,000. Finally, Friedenthal Financial acquired a new position in shares of Crown Castle during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of several recent research reports. Citigroup set a $128.00 target price on shares of Crown Castle in a report on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen cut their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Performance

NYSE CCI traded up $1.32 on Monday, hitting $85.65. The stock had a trading volume of 2,147,897 shares, compared to its average volume of 2,785,255. Crown Castle Inc. has a one year low of $84.20 and a one year 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 stock has a market cap of $37.22 billion, a price-to-earnings ratio of 30.37 and a beta of 0.87. The company’s 50-day moving average is $98.47 and its two-hundred day moving average is $105.97.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the company posted $1.77 EPS. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.31%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is 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.