Crown Castle Inc. (NYSE:CCI) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Posted by on Mar 1st, 2023

Healthcare of Ontario Pension Plan Trust Fund decreased its holdings in Crown Castle Inc. (NYSE:CCI – Get Rating) by 95.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,461 shares of the real estate investment trust’s stock after selling 67,703 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Crown Castle were worth $500,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. RMB Capital Management LLC grew its stake in shares of Crown Castle by 1.6% in the second quarter. RMB Capital Management LLC now owns 3,478 shares of the real estate investment trust’s stock worth $586,000 after purchasing an additional 56 shares in the last quarter. Confluence Wealth Services Inc. grew its stake in shares of Crown Castle by 1.4% in the second quarter. Confluence Wealth Services Inc. now owns 4,496 shares of the real estate investment trust’s stock worth $804,000 after purchasing an additional 60 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in shares of Crown Castle by 5.9% in the second quarter. GHP Investment Advisors Inc. now owns 1,112 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 62 shares in the last quarter. Jacobi Capital Management LLC boosted its stake in Crown Castle by 1.0% during the second quarter. Jacobi Capital Management LLC now owns 7,347 shares of the real estate investment trust’s stock valued at $1,237,000 after buying an additional 71 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC boosted its stake in Crown Castle by 1.1% during the third quarter. Taylor Frigon Capital Management LLC now owns 7,582 shares of the real estate investment trust’s stock valued at $1,096,000 after buying an additional 79 shares in the last quarter. Institutional investors own 90.27% of the company’s stock.

Crown Castle Price Performance

Crown Castle stock opened at $130.75 on Wednesday. The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.46 and a current ratio of 0.45. The firm has a market cap of $56.67 billion, a P/E ratio of 33.87 and a beta of 0.63. The business’s fifty day moving average is $142.15 and its two-hundred day moving average is $145.64. Crown Castle Inc. has a 52 week low of $121.71 and a 52 week high of $199.97.

Crown Castle (NYSE:CCI – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The real estate investment trust reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $1.78 by ($0.83). The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.74 billion. Crown Castle had a return on equity of 21.58% and a net margin of 23.96%. Crown Castle’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 EPS. Equities research analysts forecast that Crown Castle Inc. will post 7.26 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 15th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend is Tuesday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently 162.18%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. Cowen raised their target price on Crown Castle from $149.00 to $152.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Raymond James raised their target price on Crown Castle from $153.00 to $154.00 and gave the company an “outperform” rating in a research note on Friday, January 27th. Truist Financial decreased their target price on Crown Castle from $230.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, January 13th. Barclays raised their target price on Crown Castle from $152.00 to $153.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Crown Castle from $137.00 to $142.00 in a research note on Friday, December 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $159.36.

About Crown Castle

(Get Rating)

Crown Castle, Inc is a real estate investment trust company, which engages in the provision of access to wireless infrastructure via long-term contacts. It operates through the following segments: Towers and Fiber. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.

Featured Articles

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCI – Get Rating).

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

Receive News & Ratings for Crown Castle Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Crown Castle and related companies with MarketBeat.com's FREE daily email newsletter.