Naples Global Advisors LLC Lowers Holdings in Crown Castle Inc. $CCI

Naples Global Advisors LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 41.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 23,183 shares of the real estate investment trust’s stock after selling 16,598 shares during the quarter. Naples Global Advisors LLC’s holdings in Crown Castle were worth $2,237,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB lifted its stake in shares of Crown Castle by 0.9% in the second quarter. Wilmington Savings Fund Society FSB now owns 10,274 shares of the real estate investment trust’s stock worth $1,055,000 after buying an additional 93 shares in the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of Crown Castle by 47.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 98 shares in the last quarter. Whittier Trust Co. raised its holdings in Crown Castle by 5.6% in the 2nd quarter. Whittier Trust Co. now owns 2,046 shares of the real estate investment trust’s stock worth $210,000 after acquiring an additional 109 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Crown Castle by 24.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 599 shares of the real estate investment trust’s stock valued at $58,000 after acquiring an additional 116 shares in the last quarter. Finally, NewSquare Capital LLC lifted its position in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Crown Castle stock opened at $86.58 on Friday. Crown Castle Inc. has a one year low of $83.21 and a one year high of $115.76. The stock has a fifty day moving average of $88.59 and a 200 day moving average of $95.25. The stock has a market cap of $37.70 billion, a PE ratio of -8.14, a price-to-earnings-growth ratio of 0.55 and a beta of 0.96.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.08. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 95.37%.The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted $1.84 EPS. The business’s quarterly revenue was down 4.3% compared to the same quarter last year. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were issued a $1.0625 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is presently -39.98%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CCI. JPMorgan Chase & Co. reduced their target price on Crown Castle from $115.00 to $110.00 and set a “neutral” rating for the company in a report on Monday, January 12th. Royal Bank Of Canada dropped their price objective on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Barclays reiterated an “equal weight” rating and issued a $101.00 price objective (down from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Raymond James Financial lowered their target price on shares of Crown Castle from $124.00 to $120.00 and set a “strong-buy” rating on the stock in a research note on Thursday, October 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Crown Castle in a report on Monday, December 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $107.63.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.