Crown Castle Inc. (NYSE:CCI) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its stake in Crown Castle Inc. (NYSE:CCI) by 12.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,931 shares of the real estate investment trust’s stock after selling 1,503 shares during the quarter. Sigma Planning Corp’s holdings in Crown Castle were worth $1,297,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Van ECK Associates Corp grew its position in Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after acquiring an additional 31,319 shares in the last quarter. BOKF NA grew its holdings in Crown Castle by 25.6% during the 1st quarter. BOKF NA now owns 4,004 shares of the real estate investment trust’s stock valued at $417,000 after purchasing an additional 815 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Crown Castle by 30.4% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 35,805 shares of the real estate investment trust’s stock worth $3,789,000 after buying an additional 8,346 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Crown Castle by 21.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 517,964 shares of the real estate investment trust’s stock worth $54,816,000 after buying an additional 91,404 shares in the last quarter. Finally, OLD National Bancorp IN boosted its position in Crown Castle by 23.8% in the 2nd quarter. OLD National Bancorp IN now owns 91,118 shares of the real estate investment trust’s stock valued at $8,902,000 after buying an additional 17,529 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays boosted their price target on Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. BMO Capital Markets raised their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. upped their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $116.87.

Crown Castle Trading Down 1.7 %

Shares of NYSE CCI opened at $102.29 on Wednesday. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The company has a market cap of $44.46 billion, a price-to-earnings ratio of 36.27 and a beta of 0.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s 50 day simple moving average is $112.96 and its 200 day simple moving average is $106.37.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. Equities research analysts expect that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.12%. Crown Castle’s payout ratio is currently 221.99%.

Crown Castle 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.