BROOKFIELD Corp ON Cuts Stake in Crown Castle Inc. (NYSE:CCI)

BROOKFIELD Corp ON lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 97.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,006 shares of the real estate investment trust's stock after selling 1,708,643 shares during the quarter. BROOKFIELD Corp ON's holdings in Crown Castle were worth $3,812,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Twin Tree Management LP purchased a new stake in Crown Castle in the 4th quarter worth $25,000. FNY Investment Advisers LLC lifted its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new position in Crown Castle during the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC purchased a new position in Crown Castle during the 4th quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle in the 4th quarter worth approximately $53,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.1 %

Shares of NYSE CCI opened at $106.98 on Tuesday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month 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 business has a fifty day simple moving average of $100.64 and a two-hundred day simple moving average of $97.93. The firm has a market cap of $46.58 billion, a PE ratio of 37.94 and a beta of 0.93.

Crown Castle (NYSE:CCI - Get Free Report) last posted its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the business posted $1.72 EPS. The company's revenue for the quarter was down 4.8% on a year-over-year basis. Analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is -58.18%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CCI. Bank of America assumed coverage on shares of Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price for the company. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Barclays upped their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Finally, Citigroup upped their price objective on Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of "Moderate Buy" and an average target price of $112.41.

About Crown Castle

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.

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