Zurcher Kantonalbank Zurich Cantonalbank Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 65.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 101,030 shares of the real estate investment trust’s stock after selling 190,491 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crown Castle were worth $11,638,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. United Services Automobile Association boosted its position in shares of Crown Castle by 23.1% during the third quarter. United Services Automobile Association now owns 13,411 shares of the real estate investment trust’s stock valued at $1,234,000 after buying an additional 2,516 shares during the last quarter. Van ECK Associates Corp boosted its position in Crown Castle by 0.5% in the third quarter. Van ECK Associates Corp now owns 117,914 shares of the real estate investment trust’s stock worth $10,852,000 after purchasing an additional 542 shares during the last quarter. International Assets Investment Management LLC boosted its position in Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after purchasing an additional 695,163 shares during the last quarter. Manning & Napier Group LLC purchased a new position in Crown Castle in the fourth quarter worth $5,005,000. Finally, Dynamic Advisor Solutions LLC boosted its position in Crown Castle by 82.3% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 36,963 shares of the real estate investment trust’s stock worth $4,205,000 after purchasing an additional 16,687 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America cut their price objective on Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday. Royal Bank of Canada boosted their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Wells Fargo & Company lowered their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Friday. BMO Capital Markets lowered their target price on Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a research note on Thursday. Finally, Scotiabank lowered their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $117.73.

Crown Castle Price Performance

CCI opened at $95.26 on Friday. The stock has a 50-day moving average price of $104.88 and a 200-day moving average price of $105.10. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $131.43. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The stock has a market capitalization of $41.39 billion, a P/E ratio of 29.77, a PEG ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The firm had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.91 earnings per share. Equities analysts predict that Crown Castle Inc. will post 6.59 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.57%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

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.