Community Bank & Trust Waco Texas Sells 2,045 Shares of Crown Castle Inc. (NYSE:CCI)

Community Bank & Trust Waco Texas decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 26.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,781 shares of the real estate investment trust’s stock after selling 2,045 shares during the period. Community Bank & Trust Waco Texas’ holdings in Crown Castle were worth $686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Catalyst Capital Advisors LLC purchased a new position in Crown Castle in the 3rd quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in Crown Castle in the first quarter valued at $27,000. Rosenberg Matthew Hamilton raised its holdings in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares in the last quarter. Asset Dedication LLC grew its position in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Finally, Beacon Capital Management LLC raised its stake in shares of Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.7 %

Shares of NYSE CCI opened at $102.29 on Wednesday. The stock has a market cap of $44.46 billion, a P/E ratio of 36.27 and a beta of 0.86. 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 Inc. has a 1 year low of $92.48 and a 1 year high of $120.92. The firm has a 50-day moving average of $112.96 and a 200 day moving average of $106.37.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.77 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 6.12%. The ex-dividend date is Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

CCI has been the subject of a number of research reports. Barclays upped their price objective on shares of Crown Castle from $116.00 to $117.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. TD Cowen dropped their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price target 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, UBS Group upped their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $116.87.

About Crown Castle

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.