Redwood Investment Management LLC Has $2.03 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Redwood Investment Management LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 12.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,422 shares of the real estate investment trust’s stock after selling 2,434 shares during the period. Redwood Investment Management LLC’s holdings in Crown Castle were worth $2,034,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. raised its stake 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 valued at $93,000 after buying an additional 90 shares during the period. Pathway Financial Advisers LLC raised its stake in Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the period. Prosperity Consulting Group LLC raised its stake in Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares during the period. True North Advisors LLC raised its stake 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 valued at $278,000 after buying an additional 95 shares during the period. Finally, Granite Investment Partners LLC raised its stake 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 valued at $1,899,000 after buying an additional 100 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on CCI shares. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the company 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 report on Friday, November 1st. Wells Fargo & Company upped their target price on Crown Castle from $100.00 to $105.00 and gave the company an “equal weight” rating in a research report on Friday, October 18th. Citigroup set a $128.00 target price on Crown Castle in a research report on Thursday, October 17th. Finally, Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Twelve investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $116.87.

Crown Castle Stock Down 0.1 %

Shares of NYSE:CCI opened at $103.31 on Friday. The firm has a market cap of $44.90 billion, a P/E ratio of 36.63 and a beta of 0.86. 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 12-month low of $92.48 and a 12-month high of $120.92. The business has a fifty day simple moving average of $108.50 and a 200 day simple moving average of $107.06.

Crown Castle (NYSE:CCI) last announced 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 company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the business earned $1.77 earnings per share. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The company 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 $1.565 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.06%. Crown Castle’s dividend payout ratio is presently 221.99%.

Crown Castle 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.