Crown Castle Inc. $CCI Stock Holdings Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC lowered its position in Crown Castle Inc. (NYSE:CCI) by 49.2% during the second quarter, HoldingsChannel.com reports. The firm owned 4,605 shares of the real estate investment trust’s stock after selling 4,459 shares during the quarter. International Assets Investment Management LLC’s holdings in Crown Castle were worth $473,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Mutual of America Capital Management LLC grew its stake in Crown Castle by 10.1% in the second quarter. Mutual of America Capital Management LLC now owns 55,643 shares of the real estate investment trust’s stock valued at $5,716,000 after purchasing an additional 5,105 shares in the last quarter. Spirit of America Management Corp NY grew its stake in Crown Castle by 45.3% in the second quarter. Spirit of America Management Corp NY now owns 3,690 shares of the real estate investment trust’s stock valued at $379,000 after purchasing an additional 1,150 shares in the last quarter. Chevy Chase Trust Holdings LLC boosted its stake in shares of Crown Castle by 0.9% during the 2nd quarter. Chevy Chase Trust Holdings LLC now owns 230,008 shares of the real estate investment trust’s stock worth $23,629,000 after acquiring an additional 2,082 shares in the last quarter. Angeles Wealth Management LLC boosted its stake in shares of Crown Castle by 11.8% during the 2nd quarter. Angeles Wealth Management LLC now owns 2,921 shares of the real estate investment trust’s stock worth $300,000 after acquiring an additional 309 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in shares of Crown Castle during the 2nd quarter worth about $352,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $98.73 on Wednesday. The company has a market cap of $43.00 billion, a PE ratio of -9.25, a price-to-earnings-growth ratio of 0.75 and a beta of 0.95. The firm has a fifty day moving average price of $97.23 and a two-hundred day moving average price of $100.57. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $115.76.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.02. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.62 EPS. Analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.3%. The ex-dividend date was Monday, September 15th. Crown Castle’s payout ratio is currently -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of recent analyst reports. Raymond James Financial reaffirmed a “strong-buy” rating and set a $124.00 target price (up previously from $122.00) on shares of Crown Castle in a research report on Thursday, July 24th. Wells Fargo & Company decreased their price objective on shares of Crown Castle from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday. JMP Securities reiterated a “market outperform” rating and issued a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. UBS Group boosted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Royal Bank Of Canada set a $112.00 price target on Crown Castle and gave the company an “outperform” rating in a research report on Wednesday, October 1st. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.44.

Crown Castle Company 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.