NewEdge Advisors LLC Reduces Stake in Crown Castle Inc. (NYSE:CCI)

NewEdge Advisors LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 65.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,409 shares of the real estate investment trust's stock after selling 17,931 shares during the period. NewEdge Advisors LLC's holdings in Crown Castle were worth $854,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Barclays PLC raised its stake in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock valued at $613,900,000 after acquiring an additional 348,296 shares during the last quarter. Bard Financial Services Inc. raised its position in Crown Castle by 6.6% during the 3rd quarter. Bard Financial Services Inc. now owns 10,080 shares of the real estate investment trust's stock worth $1,196,000 after purchasing an additional 620 shares during the last quarter. Anchor Investment Management LLC raised its position in Crown Castle by 111.7% during the 3rd quarter. Anchor Investment Management LLC now owns 1,397 shares of the real estate investment trust's stock worth $166,000 after purchasing an additional 737 shares during the last quarter. World Investment Advisors LLC lifted its holdings in Crown Castle by 16.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,374 shares of the real estate investment trust's stock worth $400,000 after buying an additional 484 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Crown Castle in the 3rd quarter valued at about $1,038,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.0 %

Shares of NYSE CCI traded up $0.01 during mid-day trading on Thursday, reaching $105.77. 722,259 shares of the company's stock traded hands, compared to its average volume of 2,867,536. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50-day simple moving average of $99.78 and a 200 day simple moving average of $98.27. The stock has a market cap of $46.05 billion, a P/E ratio of 37.57 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

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

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 5.92%. Crown Castle's dividend payout ratio (DPR) is currently -69.71%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Bank of America started coverage on shares of Crown Castle in a research note on Thursday, March 20th. They set a "neutral" rating and a $110.00 target price for the company. Barclays lifted their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $85.00 to $105.00 in a research report on Monday, March 17th. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price for the company in a report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a report on Thursday, January 23rd. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and an average price target of $110.59.

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.