GAMMA Investing LLC Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

GAMMA Investing LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,853 shares of the real estate investment trust’s stock after selling 371 shares during the period. GAMMA Investing LLC’s holdings in Crown Castle were worth $440,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. TD Asset Management Inc raised its stake in shares of Crown Castle by 3.6% in the 2nd quarter. TD Asset Management Inc now owns 174,397 shares of the real estate investment trust’s stock valued at $17,039,000 after purchasing an additional 6,009 shares in the last quarter. New York Life Investment Management LLC raised its stake in Crown Castle by 4.8% during the second quarter. New York Life Investment Management LLC now owns 131,168 shares of the real estate investment trust’s stock valued at $12,815,000 after buying an additional 5,989 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Crown Castle by 3.2% during the 2nd quarter. Private Advisor Group LLC now owns 30,548 shares of the real estate investment trust’s stock worth $2,985,000 after buying an additional 952 shares during the last quarter. Candriam S.C.A. grew its position in shares of Crown Castle by 3.8% in the 2nd quarter. Candriam S.C.A. now owns 33,975 shares of the real estate investment trust’s stock worth $3,319,000 after acquiring an additional 1,239 shares in the last quarter. Finally, Umpqua Bank increased its holdings in shares of Crown Castle by 3.0% in the 2nd quarter. Umpqua Bank now owns 4,895 shares of the real estate investment trust’s stock valued at $478,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCI. Royal Bank of Canada lifted 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. The Goldman Sachs Group boosted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, TD Cowen dropped their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus target price of $113.93.

Crown Castle Trading Up 0.8 %

NYSE:CCI opened at $89.99 on Monday. The stock has a fifty day simple moving average of $100.51 and a 200 day simple moving average of $106.30. The firm has a market capitalization of $39.11 billion, a price-to-earnings ratio of 31.91 and a beta of 0.87. Crown Castle Inc. has a 1-year low of $88.65 and a 1-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.

Crown Castle (NYSE:CCI) last released 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). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s revenue was down .9% on a year-over-year basis. During the same period last year, the business earned $1.77 earnings per share. Sell-side analysts forecast that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.96%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.