JPMorgan Chase & Co. reduced its holdings in Crown Castle Inc. (NYSE:CCI – Free Report) by 10.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,972,995 shares of the real estate investment trust’s stock after selling 239,295 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.45% of Crown Castle worth $224,803,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Bank of America Corp DE raised its stake in shares of Crown Castle by 12.4% in the first quarter. Bank of America Corp DE now owns 16,066,495 shares of the real estate investment trust’s stock worth $2,150,340,000 after acquiring an additional 1,776,989 shares during the last quarter. Morgan Stanley raised its position in Crown Castle by 1.8% in the 4th quarter. Morgan Stanley now owns 11,343,685 shares of the real estate investment trust’s stock worth $1,538,658,000 after purchasing an additional 203,085 shares during the last quarter. FMR LLC lifted its holdings in Crown Castle by 5.2% during the 1st quarter. FMR LLC now owns 9,200,541 shares of the real estate investment trust’s stock worth $1,231,401,000 after buying an additional 457,468 shares in the last quarter. Geode Capital Management LLC boosted its position in Crown Castle by 1.3% in the 1st quarter. Geode Capital Management LLC now owns 9,046,249 shares of the real estate investment trust’s stock valued at $1,208,030,000 after buying an additional 118,306 shares during the last quarter. Finally, Aristotle Capital Management LLC raised its position in shares of Crown Castle by 1.2% during the first quarter. Aristotle Capital Management LLC now owns 6,553,356 shares of the real estate investment trust’s stock worth $877,101,000 after acquiring an additional 78,928 shares during the last quarter. 90.27% of the stock is currently owned by institutional investors.
Crown Castle Trading Up 0.5 %
NYSE CCI opened at $103.58 on Monday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $153.98. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.28. The stock has a 50 day moving average of $94.52 and a 200-day moving average of $103.73. The company has a market cap of $44.92 billion, a PE ratio of 28.93, a PEG ratio of 2.54 and a beta of 0.66.
Crown Castle (NYSE:CCI – Get Free Report) last announced its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.08). The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.70 billion. Crown Castle had a net margin of 21.93% and a return on equity of 21.85%. During the same quarter in the prior year, the business earned $1.85 EPS. On average, equities research analysts anticipate that Crown Castle Inc. will post 7.14 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $6.26 annualized dividend and a yield of 6.04%. Crown Castle’s dividend payout ratio is 174.86%.
Wall Street Analyst Weigh In
CCI has been the topic of several recent research reports. Raymond James decreased their price target on Crown Castle from $126.00 to $104.00 and set an “outperform” rating on the stock in a report on Friday, October 20th. Scotiabank began coverage on Crown Castle in a research report on Friday, October 13th. They issued a “sector perform” rating and a $110.00 price target on the stock. StockNews.com began coverage on Crown Castle in a report on Thursday, October 5th. They issued a “hold” rating for the company. Bank of America cut Crown Castle from a “buy” rating to a “neutral” rating and set a $115.00 target price on the stock. in a report on Thursday, August 10th. Finally, Argus started coverage on shares of Crown Castle in a research report on Wednesday, August 2nd. They issued a “buy” rating and a $140.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.56.
View Our Latest Analysis on CCI
Crown Castle Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.
See Also
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