Crown Castle Inc. (NYSE:CCI) Position Trimmed by US Bancorp DE

Key Points

• US Bancorp DE reduced its position in Crown Castle Inc. by 15.4% in Q1, owning 55,305 shares after selling 10,043 shares, with a total value of approximately $5.76 million.
• Analysts have provided a favorable outlook on Crown Castle, with upgrades leading to multiple price objectives set between $112.00 and $125.00, indicating strong buy interest.
• Crown Castle recently declared a quarterly dividend of $1.0625, marking a yield of 4.0%, despite a declining revenue trend of 4.2% year-over-year.

US Bancorp DE decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,305 shares of the real estate investment trust's stock after selling 10,043 shares during the quarter. US Bancorp DE's holdings in Crown Castle were worth $5,764,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CCI. Nicolet Advisory Services LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $222,000. American Assets Investment Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth approximately $10,395,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in shares of Crown Castle by 14.5% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,261 shares of the real estate investment trust's stock worth $340,000 after buying an additional 412 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Crown Castle by 18.9% during the first quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust's stock worth $70,000 after buying an additional 107 shares in the last quarter. Finally, Davis R M Inc. acquired a new stake in shares of Crown Castle during the first quarter worth approximately $224,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. JMP Securities restated a "market outperform" rating and set a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. Raymond James Financial restated a "strong-buy" rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. Royal Bank Of Canada raised their price objective on Crown Castle from $107.00 to $112.00 and gave the stock a "sector perform" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $116.18.

Crown Castle Stock Performance

CCI traded down $2.16 during trading on Tuesday, reaching $105.03. The company had a trading volume of 2,534,325 shares, compared to its average volume of 3,288,330. The firm's 50-day simple moving average is $102.92 and its 200 day simple moving average is $99.47. The company has a market cap of $45.74 billion, a price-to-earnings ratio of -9.84, a PEG ratio of 0.81 and a beta of 0.89. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. Crown Castle's revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. On average, sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $1.0625 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.0%. Crown Castle's dividend payout ratio (DPR) is currently -39.83%.

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.