Robeco Institutional Asset Management B.V. cut its stake in Crown Castle Inc. (NYSE:CCI – Get Rating) by 7.0% in the 3rd quarter, Holdings Channel reports. The fund owned 159,699 shares of the real estate investment trust’s stock after selling 12,054 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Crown Castle were worth $23,084,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Johnson Financial Group Inc. grew its position in Crown Castle by 210.8% in the second quarter. Johnson Financial Group Inc. now owns 230 shares of the real estate investment trust’s stock worth $39,000 after acquiring an additional 156 shares in the last quarter. Stock Yards Bank & Trust Co. purchased a new position in Crown Castle in the second quarter worth $1,173,000. UBS Oconnor LLC grew its position in Crown Castle by 99.2% in the third quarter. UBS Oconnor LLC now owns 107,248 shares of the real estate investment trust’s stock worth $15,503,000 after acquiring an additional 53,421 shares in the last quarter. State of Alaska Department of Revenue grew its position in Crown Castle by 0.8% in the third quarter. State of Alaska Department of Revenue now owns 276,761 shares of the real estate investment trust’s stock worth $40,004,000 after acquiring an additional 2,314 shares in the last quarter. Finally, Financial Counselors Inc. boosted its position in Crown Castle by 1.1% during the third quarter. Financial Counselors Inc. now owns 134,499 shares of the real estate investment trust’s stock valued at $19,442,000 after buying an additional 1,489 shares during the period. 90.27% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the stock. Raymond James upped their price target on shares of Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Cowen upped their price target on shares of Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research report on Friday, January 27th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Crown Castle from $137.00 to $142.00 in a research report on Friday, December 16th. StockNews.com assumed coverage on shares of Crown Castle in a research report on Thursday. They set a “hold” rating for the company. Finally, Barclays upped their price target on shares of Crown Castle from $152.00 to $153.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $159.36.
Crown Castle Price Performance
Crown Castle (NYSE:CCI – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The real estate investment trust reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.83). The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.74 billion. Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. Crown Castle’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. On average, sell-side analysts forecast that Crown Castle Inc. will post 7.26 EPS for the current year.
Crown Castle Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 15th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 4.72%. The ex-dividend date of this dividend is Tuesday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 162.18%.
About Crown Castle
Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.
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