Zurcher Kantonalbank Zurich Cantonalbank Sells 190,491 Shares of Crown Castle Inc. (NYSE:CCI)

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 65.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 101,030 shares of the real estate investment trust’s stock after selling 190,491 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Crown Castle were worth $11,638,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Riverview Trust Co grew its position in shares of Crown Castle by 108.5% during the 3rd quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 140 shares during the period. Almanack Investment Partners LLC. acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $28,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Crown Castle in the 2nd quarter valued at approximately $29,000. Operose Advisors LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at approximately $30,000. Finally, Valley National Advisers Inc. grew its position in shares of Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on CCI. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday. Bank of America reduced their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. BMO Capital Markets reduced their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday. Royal Bank of Canada upped their price target on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Finally, Jefferies Financial Group reduced their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average target price of $117.73.

Crown Castle Stock Up 0.9 %

CCI opened at $95.26 on Friday. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $131.43. The stock’s fifty day simple moving average is $104.88 and its 200 day simple moving average is $105.10. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. The stock has a market cap of $41.39 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.51 and a beta of 0.73.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter last year, the company posted $1.91 EPS. The firm’s revenue was down 7.4% on a year-over-year basis. As a group, research analysts expect that Crown Castle Inc. will post 6.59 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is 195.63%.

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.