Public Employees Retirement System of Ohio Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Public Employees Retirement System of Ohio reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 3.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 216,927 shares of the real estate investment trust’s stock after selling 7,867 shares during the period. Public Employees Retirement System of Ohio’s holdings in Crown Castle were worth $25,734,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. grew its position in Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC boosted its holdings in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares during the period. Prosperity Consulting Group LLC increased its position in shares of Crown Castle by 4.4% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 95 shares during the last quarter. True North Advisors LLC lifted its position in Crown Castle by 4.2% in the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after buying an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC lifted its position in Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 100 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CCI shares. JPMorgan Chase & Co. boosted their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group increased their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays upped their target price 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. Bank of America raised their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $116.87.

Crown Castle Trading Up 0.2 %

NYSE CCI opened at $102.05 on Tuesday. The company’s 50-day simple moving average is $107.87 and its two-hundred day simple moving average is $107.18. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The company has a market capitalization of $44.35 billion, a price-to-earnings ratio of 36.19 and a beta of 0.86. 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 (NYSE:CCI) last issued its quarterly earnings data 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 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 quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the firm earned $1.77 EPS. Equities analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.13%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is currently 221.99%.

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.