BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 22,460 Shares of Crown Castle Inc. (NYSE:CCI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its position in Crown Castle Inc. (NYSE:CCI) by 7.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 274,880 shares of the real estate investment trust’s stock after selling 22,460 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Crown Castle were worth $32,609,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. Quent Capital LLC raised its stake in shares of Crown Castle by 10.9% during the first quarter. Quent Capital LLC now owns 2,346 shares of the real estate investment trust’s stock worth $248,000 after buying an additional 231 shares during the last quarter. Clearbridge Investments LLC raised its position in shares of Crown Castle by 15.9% during the 1st quarter. Clearbridge Investments LLC now owns 3,038 shares of the real estate investment trust’s stock valued at $322,000 after acquiring an additional 416 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of Crown Castle in the 1st quarter valued at $27,000. CreativeOne Wealth LLC bought a new position in shares of Crown Castle in the 1st quarter worth $209,000. Finally, Axxcess Wealth Management LLC acquired a new stake in shares of Crown Castle during the first quarter worth $587,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.9 %

Shares of Crown Castle stock opened at $105.42 on Friday. The firm has a market cap of $45.81 billion, a PE ratio of 37.38 and a beta of 0.86. The business’s 50 day simple moving average is $110.60 and its 200 day simple moving average is $106.75. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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). 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 analyst estimates of $1.64 billion. During the same quarter last year, the business earned $1.77 earnings per share. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.94%. Crown Castle’s dividend payout ratio is 221.99%.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent analyst reports. Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Wells Fargo & Company upped their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research note on Friday, October 18th. UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. boosted 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. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.