Intrust Bank NA Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Intrust Bank NA lowered its position in Crown Castle Inc. (NYSE:CCI – Get Rating) by 8.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 3,922 shares of the real estate investment trust’s stock after selling 366 shares during the period. Intrust Bank NA’s holdings in Crown Castle were worth $532,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Richard W. Paul & Associates LLC purchased a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. Almanack Investment Partners LLC. purchased a new stake in Crown Castle in the third quarter valued at approximately $28,000. Retirement Financial Solutions LLC acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $36,000. Byrne Asset Management LLC acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $36,000. Finally, Duncker Streett & Co. Inc. acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CCI shares. TD Cowen dropped their target price on Crown Castle from $152.00 to $149.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. Moffett Nathanson raised Crown Castle from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $161.00 to $155.00 in a report on Thursday, March 30th. Morgan Stanley dropped their target price on Crown Castle from $159.00 to $151.00 in a report on Tuesday, April 18th. Royal Bank of Canada dropped their target price on Crown Castle from $162.00 to $144.00 in a report on Wednesday, April 26th. Finally, StockNews.com started coverage on Crown Castle in a report on Thursday, May 18th. They issued a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $155.56.

Crown Castle Stock Up 0.1 %

Crown Castle stock opened at $112.33 on Friday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.52 and a current ratio of 0.52. The firm has a market capitalization of $48.71 billion, a price-to-earnings ratio of 29.08 and a beta of 0.65. Crown Castle Inc. has a fifty-two week low of $110.22 and a fifty-two week high of $193.95. The stock’s fifty day moving average is $124.38 and its two-hundred day moving average is $133.91.

Crown Castle (NYSE:CCI – Get Rating) last posted its earnings results on Wednesday, April 19th. The real estate investment trust reported $0.97 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.88). The firm had revenue of $1.77 billion during the quarter, compared to analyst estimates of $1.76 billion. Crown Castle had a net margin of 23.81% and a return on equity of 22.12%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the company posted $1.87 EPS. Analysts predict that Crown Castle Inc. will post 7.25 EPS for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be given a $1.565 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.57%. Crown Castle’s dividend payout ratio is currently 162.18%.

Insider Activity

In related news, Director Kevin A. Stephens acquired 1,000 shares of Crown Castle stock in a transaction dated Tuesday, May 2nd. The shares were acquired at an average cost of $118.00 per share, for a total transaction of $118,000.00. Following the completion of the transaction, the director now directly owns 15,416 shares of the company’s stock, valued at $1,819,088. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Christopher Levendos sold 14,472 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $124.04, for a total transaction of $1,795,106.88. Following the sale, the chief operating officer now directly owns 4,759 shares in the company, valued at approximately $590,306.36. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kevin A. Stephens bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were bought at an average price of $118.00 per share, for a total transaction of $118,000.00. Following the completion of the acquisition, the director now owns 15,416 shares in the company, valued at approximately $1,819,088. The disclosure for this purchase can be found here. Insiders have sold 24,472 shares of company stock worth $3,012,757 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

About Crown Castle

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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 Towers and Fiber segments. The Towers segment offers access, including space or capacity towers dispersed throughout the United States.