Independent Solutions Wealth Management LLC Has $854,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Independent Solutions Wealth Management LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,199 shares of the real estate investment trust’s stock after selling 395 shares during the quarter. Independent Solutions Wealth Management LLC’s holdings in Crown Castle were worth $854,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of Crown Castle by 24.7% in the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares during the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Crown Castle by 4.2% in the third 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 purchasing an additional 203,442 shares in the last quarter. Citizens Business Bank purchased a new position in shares of Crown Castle during the third quarter valued at approximately $620,000. Quest Partners LLC raised its position in Crown Castle by 3,111.6% in the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock valued at $1,581,000 after buying an additional 12,913 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its stake in Crown Castle by 7.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust’s stock valued at $125,665,000 after acquiring an additional 77,135 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on CCI shares. UBS Group raised their price target on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Jefferies Financial Group lifted their price target on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. JPMorgan Chase & Co. raised their target price on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $117.00.

Crown Castle Stock Performance

Shares of Crown Castle stock traded down $0.98 during trading hours on Thursday, reaching $91.92. The company had a trading volume of 2,422,134 shares, compared to its average volume of 2,673,263. Crown Castle Inc. has a one year low of $91.51 and a one year high of $120.92. The business has a fifty day simple moving average of $105.55 and a 200 day simple moving average of $107.03. 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 cap of $39.95 billion, a PE ratio of 32.60 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released 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). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter last year, the business posted $1.77 earnings per share. Crown Castle’s revenue was down .9% compared to the same quarter last year. On average, analysts anticipate that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 6.81%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is 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.