Crown Castle Inc. (NYSE:CCI) Shares Sold by Shepherd Financial Partners LLC

Shepherd Financial Partners LLC cut its holdings in Crown Castle Inc. (NYSE:CCI) by 16.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,746 shares of the real estate investment trust’s stock after selling 558 shares during the quarter. Shepherd Financial Partners LLC’s holdings in Crown Castle were worth $326,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle in the first quarter valued at approximately $27,000. Asset Dedication LLC grew its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of 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. Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. Finally, ORG Partners LLC purchased a new position in shares of Crown Castle during the second quarter valued at approximately $34,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on CCI. Bank of America upped their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their price objective on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus target price of $116.87.

Crown Castle Price Performance

Crown Castle stock opened at $106.58 on Friday. The firm has a market capitalization of $46.32 billion, a P/E ratio of 37.79 and a beta of 0.86. The firm has a fifty day moving average of $113.78 and a 200-day moving average of $105.74. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last announced 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 net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 earnings per share. As a group, analysts predict that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid 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 5.87%. 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.