Edgestream Partners L.P. Sells 54,885 Shares of Crown Castle Inc. (NYSE:CCI)

Edgestream Partners L.P. cut its holdings in Crown Castle Inc. (NYSE:CCI) by 93.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,091 shares of the real estate investment trust’s stock after selling 54,885 shares during the period. Edgestream Partners L.P.’s holdings in Crown Castle were worth $485,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Legal & General Group Plc increased its holdings in Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after purchasing an additional 67,072 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Crown Castle by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock valued at $593,498,000 after acquiring an additional 237,730 shares during the period. National Bank of Canada FI boosted its stake in Crown Castle by 10.7% during the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after acquiring an additional 391,127 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after purchasing an additional 3,225,460 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 0.1 %

Crown Castle stock opened at $103.31 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $44.90 billion, a PE ratio of 36.63 and a beta of 0.86. Crown Castle Inc. has a fifty-two week low of $92.48 and a fifty-two week high of $120.92. The firm’s 50-day simple moving average is $108.50 and its 200 day simple moving average is $107.06.

Crown Castle (NYSE:CCI) last released 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). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. During the same period in the prior year, the company earned $1.77 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Research analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the topic of several research reports. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group increased 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. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Bank of America upped their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, TD Cowen reduced their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average 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.