Mosaic Financial Group LLC Sells 250 Shares of Crown Castle Inc. (NYSE:CCI)

Mosaic Financial Group LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 9.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,466 shares of the real estate investment trust’s stock after selling 250 shares during the quarter. Mosaic Financial Group LLC’s holdings in Crown Castle were worth $293,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP raised its position in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. Legal & General Group Plc raised its position in Crown Castle by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after buying an additional 67,072 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Crown Castle by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,002,934 shares of the real estate investment trust’s stock worth $593,498,000 after acquiring an additional 237,730 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on CCI shares. The Goldman Sachs Group lifted their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Jefferies Financial Group increased their price objective on shares of Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Finally, Citigroup set a $128.00 target price on Crown Castle in a report on Thursday, October 17th. Twelve research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $116.87.

Crown Castle Trading Down 1.4 %

Shares of Crown Castle stock opened at $101.85 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a fifty day simple moving average of $108.21 and a two-hundred day simple moving average of $107.11. Crown Castle Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The company has a market capitalization of $44.26 billion, a price-to-earnings ratio of 36.12 and a beta of 0.86.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (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 company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Research analysts forecast that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.15%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

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.