Crown Castle Inc. (NYSE:CCI) Shares Sold by Global X Japan Co. Ltd.

Global X Japan Co. Ltd. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 15.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 974 shares of the real estate investment trust’s stock after selling 180 shares during the quarter. Global X Japan Co. Ltd.’s holdings in Crown Castle were worth $116,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of CCI. EntryPoint Capital LLC bought a new stake in shares of Crown Castle in the 1st quarter worth about $27,000. Asset Dedication LLC grew its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC increased its holdings in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the last quarter. ORG Partners LLC acquired a new stake in Crown Castle during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new position in Crown Castle during the 2nd quarter worth approximately $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $110.68 on Thursday. The stock has a market cap of $48.09 billion, a price-to-earnings ratio of 34.59 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. Crown Castle Inc. has a 12 month low of $86.49 and a 12 month high of $120.92. The stock’s 50 day moving average price is $114.02 and its 200 day moving average price is $105.30.

Crown Castle (NYSE:CCI) last issued its quarterly 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 business 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 firm posted $1.77 earnings per share. Crown Castle’s revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.66%. Crown Castle’s dividend payout ratio is currently 195.63%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on CCI. Wells Fargo & Company upped their price target on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Barclays raised their price target on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Finally, The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $116.47.

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.