RB Capital Management LLC Sells 518 Shares of Crown Castle Inc. (NYSE:CCI)

RB Capital Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,809 shares of the real estate investment trust’s stock after selling 518 shares during the quarter. RB Capital Management LLC’s holdings in Crown Castle were worth $1,706,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CCI. Operose Advisors LLC acquired a new position in shares of Crown Castle during the third quarter worth about $30,000. Valley National Advisers Inc. lifted its position in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in Crown Castle by 154.8% during the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares during the last quarter. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 43.6% in the 4th quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 113 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Crown Castle by 123.3% during the 3rd quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock worth $44,000 after buying an additional 265 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock traded up $1.45 during midday trading on Wednesday, reaching $95.23. The company’s stock had a trading volume of 4,088,569 shares, compared to its average volume of 2,859,889. The stock has a market cap of $41.38 billion, a PE ratio of 29.48, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. The company has a current ratio of 0.42, a quick ratio of 0.40 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $122.97. The business has a 50-day moving average price of $103.09 and a 200-day moving average price of $105.42.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.91 earnings per share. On average, sell-side analysts predict that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

Several research analysts recently commented on CCI shares. Deutsche Bank Aktiengesellschaft reduced their price target on Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Scotiabank dropped their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Royal Bank of Canada boosted 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. Bank of America cut their target price on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Finally, Barclays upped their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $113.29.

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.