BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 22,460 Shares of Crown Castle Inc. (NYSE:CCI)

by · The Cerbat Gem

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its position in Crown Castle Inc. (NYSE:CCI – Free Report) by 7.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 274,880 shares of the real estate investment trust’s stock after selling 22,460 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned approximately 0.06% of Crown Castle worth $32,609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CCI. Daiwa Securities Group Inc. boosted its position in shares of Crown Castle by 4,097.8% in the second quarter. Daiwa Securities Group Inc. now owns 2,524,226 shares of the real estate investment trust’s stock valued at $246,617,000 after acquiring an additional 2,464,094 shares during the period. Bank of Montreal Can boosted its holdings in Crown Castle by 191.7% in the 2nd quarter. Bank of Montreal Can now owns 2,032,521 shares of the real estate investment trust’s stock valued at $195,183,000 after purchasing an additional 1,335,644 shares during the period. Cooke & Bieler LP boosted its holdings in Crown Castle by 95.8% in the 2nd quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares during the period. International Assets Investment Management LLC grew its position in Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after purchasing an additional 965,907 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of 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 valued at $387,333,000 after buying an additional 391,127 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.9 %

Shares of CCI opened at $105.42 on Friday. The company has a market capitalization of $45.81 billion, a P/E ratio of 37.38 and a beta of 0.86. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92. The business’s 50 day simple moving average is $110.60 and its 200-day simple moving average is $106.75. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI – Get Free Report) last posted 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 return on equity of 20.98% and a net margin of 18.59%. The business had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same period in the prior year, the firm posted $1.77 EPS. Crown Castle’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.94%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Ratings Changes

A number of research firms recently weighed in on CCI. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. TD Cowen reduced their target price 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. Barclays lifted their price target on shares of Crown Castle from $116.00 to $117.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average price target of $116.87.

Get Our Latest Report on CCI

Crown Castle Profile

(Free Report)

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.

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