Taylor Frigon Capital Management LLC Reduces Stake in Crown Castle Inc. (NYSE:CCI)

Taylor Frigon Capital Management LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.8% during the 3rd quarter, Holdings Channel reports. The fund owned 14,722 shares of the real estate investment trust’s stock after selling 427 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Crown Castle were worth $1,746,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares during the last quarter. Pathway Financial Advisers LLC lifted its holdings in Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after acquiring an additional 91 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 95 shares during the period. True North Advisors LLC increased its stake in Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares during the last quarter. Finally, Granite Investment Partners LLC raised its position in Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 0.7 %

NYSE CCI traded up $0.81 during trading hours on Thursday, hitting $111.49. 522,367 shares of the company were exchanged, compared to its average volume of 2,631,554. The company has a quick ratio of 0.43, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $48.45 billion, a price-to-earnings ratio of 39.25 and a beta of 0.85. The company has a 50 day moving average of $114.02 and a two-hundred day moving average of $105.30. Crown Castle Inc. has a 52-week low of $86.49 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last announced 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). The company had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.77 earnings per share. Equities research analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.61%. Crown Castle’s payout ratio is 221.99%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CCI shares. The Goldman Sachs Group increased their price target on Crown Castle from $105.00 to $120.00 and gave the stock 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 report on Tuesday, August 13th. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. JPMorgan Chase & Co. increased their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Twelve research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $116.47.

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.