Norway Savings Bank Sells 460 Shares of Crown Castle Inc. (NYSE:CCI)

Norway Savings Bank reduced its position in Crown Castle Inc. (NYSE:CCI) by 15.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,449 shares of the real estate investment trust’s stock after selling 460 shares during the quarter. Norway Savings Bank’s holdings in Crown Castle were worth $222,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP raised its position in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Crown Castle by 4,097.8% in the 2nd quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the last quarter. Bank of Montreal Can boosted its holdings in Crown Castle by 191.7% during the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after acquiring an additional 1,335,644 shares during the period. Finally, International Assets Investment Management LLC grew its position in Crown Castle by 13,271.6% during the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after acquiring an additional 965,907 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 1.1 %

Shares of Crown Castle stock traded down $1.00 during trading on Tuesday, hitting $87.54. The company’s stock had a trading volume of 1,601,908 shares, compared to its average volume of 2,120,237. Crown Castle Inc. has a 52 week low of $87.36 and a 52 week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a fifty day simple moving average of $100.10 and a two-hundred day simple moving average of $106.24. The company has a market capitalization of $38.04 billion, a PE ratio of 31.04 and a beta of 0.87.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 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 return on equity of 20.98% and a net margin of 18.59%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.77 earnings per share. Equities research analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.15%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCI. Barclays increased their price objective on Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price target 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. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. TD Cowen cut their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $113.93.

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.