Cadence Bank Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

Cadence Bank lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 6.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,255 shares of the real estate investment trust’s stock after selling 144 shares during the period. Cadence Bank’s holdings in Crown Castle were worth $268,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the third quarter worth $25,000. Rosenberg Matthew Hamilton increased its holdings in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. Asset Dedication LLC raised its position in Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares in the last quarter. Beacon Capital Management LLC boosted its stake in shares of Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. Finally, New Millennium Group LLC purchased a new position in shares of Crown Castle in the 2nd quarter valued at about $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CCI shares. Bank of America raised their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Jefferies Financial Group raised their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, October 17th. UBS Group boosted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. TD Cowen dropped their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Finally, The Goldman Sachs Group lifted their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Twelve analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Trading Up 0.4 %

CCI opened at $106.69 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $92.48 and a 52 week high of $120.92. The business’s 50 day moving average is $109.83 and its two-hundred day moving average is $106.98. The firm has a market cap of $46.37 billion, a price-to-earnings ratio of 37.83 and a beta of 0.86.

Crown Castle (NYSE:CCI) last announced its 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 business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.77 earnings per share. On average, research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently announced 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 annualized dividend and a dividend yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Crown Castle Company 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.