Crown Castle Inc. (NYSE:CCI) Shares Sold by Pine Valley Investments Ltd Liability Co

Pine Valley Investments Ltd Liability Co decreased its position in Crown Castle Inc. (NYSE:CCI) by 14.5% in the third quarter, HoldingsChannel.com reports. The fund owned 15,399 shares of the real estate investment trust’s stock after selling 2,616 shares during the period. Pine Valley Investments Ltd Liability Co’s holdings in Crown Castle were worth $1,827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. increased its holdings in shares of Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the period. Pathway Financial Advisers LLC increased its holdings in 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 buying an additional 91 shares during the period. Prosperity Consulting Group LLC raised its position in 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 worth $221,000 after buying an additional 95 shares during the last quarter. True North Advisors LLC lifted its stake in Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares during the period. Finally, Granite Investment Partners LLC boosted its holdings in shares of Crown Castle by 0.5% in the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $98.79 on Friday. The company’s 50-day moving average is $107.17 and its two-hundred day moving average is $107.14. Crown Castle Inc. has a 1-year low of $92.48 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $42.93 billion, a price-to-earnings ratio of 35.03 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period last year, the business earned $1.77 EPS. Crown Castle’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders 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 dividend yield of 6.34%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCI. UBS Group boosted their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $105.00 to $100.00 in a research report on Tuesday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $116.53.

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.