Ameriprise Financial Inc. sells… 480,348 shares of Crown Castle Inc. stock. (NYSE:CCI)
Ameriprise Financial Inc. lowered… Its position in Crown Castle Inc. stock. (NYSE:CCI – Free Report) rose 14.3% in the first quarter, the company said in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owns 2,872,053 shares of the real estate investment trust’s stock after selling 480,348 shares during the quarter. Ameriprise Financial Inc. owns about 0.66% of Crown Castle worth $384,396,000 according to its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings in CCI. Advisory Services Network LLC raised its holdings in shares of Crown Castle by 34.6% in the first quarter. Advisory Services Network LLC now owns 13,992 shares of the real estate investment trust’s stock valued at $1,873,000 after acquiring an additional 3,595 shares during the last quarter. Rockefeller Capital Management LP raised its holdings in shares of Crown Castle by 3.2% in the first quarter. Rockefeller Capital Management LP now owns 142,611 shares of the real estate investment trust’s stock worth $19,086,000 after purchasing an additional 4,461 shares in the last quarter. Providence Capital Advisors LLC boosted its position in shares of Crown Castle by 13,535.7% during the first quarter. Providence Capital Advisors LLC now owns 2,810,309 shares of the real estate investment trust’s stock valued at $20,997,000 after purchasing an additional 2,789,699 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in Crown Castle by 1.0% during the first quarter. Chevy Chase Trust Holdings LLC now owns 251,650 shares of the real estate investment trust’s stock worth $33,681,000 after purchasing an additional 2,563 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Crown Castle by 40.8% in the 1st quarter. Thrivent Financial for Lutherans now owns 118,981 shares of the real estate investment trust’s stock worth $15,922,000 after purchasing an additional 34,485 shares during the last quarter. 90.27% of the shares are owned by institutional investors and hedge funds.
Analyst ratings changes
CCI has been the subject of numerous analyst reports. Bank of America downgraded shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. In a report on Thursday, August 10. Royal Bank of Canada cut their target price on Crown Castle from $144.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. Raymond James cut their price target on Crown Castle from $128.00 to $126.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 22nd. BMO Capital Markets lowered their target price on Crown Castle from C$113.00 to C$106.00 and set an “underperform” rating for the company in a research report on Thursday, July 20th. Finally, StockNews.com began coverage of shares of Crown Castle in a research report on Thursday, August 17th. They have placed a “hold” rating on the company. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $138.56.
View our latest CCI report
Crown Castle trades rose 2.8%
CCI shares opened at $98.63 on Friday. At Crown Castle Inc. The 52-week low is $95.73 and the 52-week high is $166.50. The company’s fifty day moving average is $105.25 and its 200 day moving average is $116.05. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.50 and a current ratio of 0.50. The company has a market capitalization of $42.77 billion, a P/E ratio of 25.03 and a beta of 0.64.
Crown Castle (NYSE:CCI – Get Free Report) last released its quarterly earnings data on Thursday, July 20th. The real estate investment trust reported $1.05 EPS for the quarter, beating the consensus estimate of $1.79 by ($0.74). The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.86 billion. Crown Castle had a return on equity of 23.20% and a net margin of 23.85%. The company’s revenue for the quarter increased by 7.7% compared to the same quarter last year. During the same period a year earlier, the company posted earnings of $1.80 per share. On average, equity research analysts expect Crown Castle Inc. Posting 7.13 earnings per share for the current fiscal year.
Crown Castle announces dividends
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. A dividend will be issued to shareholders of record on Friday, September 15, in the amount of $1,565 per share. This represents a dividend of $6.26 on an annualized basis and a dividend yield of 6.35%. The ex-dividend date is Thursday, September 14th. Crown Castle’s dividend payout ratio currently stands at 158.88%.
Crown Castle Profile
Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 miles of fiber supporting small cells and fiber solutions across every major U.S. market. This national portfolio of communications infrastructure connects cities and communities with essential data, technology and wireless services – bringing information, ideas and innovations to the people and businesses who need it.
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