Fmr LLC Sells 955,976 Shares of Crown Castle Inc. (NYSE:CCI)

Fmr LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,308,482 shares of the real estate investment trust’s stock after selling 955,976 shares during the quarter. Fmr LLC owned approximately 3.29% of Crown Castle worth $1,697,415,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle in the 1st quarter valued at approximately $27,000. Rosenberg Matthew Hamilton lifted its stake in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the period. Asset Dedication LLC increased its position in Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in Crown Castle by 163.9% during the 1st 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 in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $106.30 on Wednesday. The stock’s 50-day simple moving average is $110.06 and its 200-day simple moving average is $106.98. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The company has a market capitalization of $46.20 billion, a price-to-earnings ratio of 37.69 and a beta of 0.86. 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 announced its quarterly earnings data 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 net margin of 18.59% and a return on equity of 20.98%. The business had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. Crown Castle’s revenue was down .9% on a year-over-year basis. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.89%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

A number of research firms recently weighed in on CCI. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Jefferies Financial Group lifted their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. UBS Group lifted their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Bank of America lifted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $116.87.

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.