Crown Castle Inc. (NYSE:CCI) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lessened its stake in Crown Castle Inc. (NYSE:CCI) by 26.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 25,580 shares of the real estate investment trust’s stock after selling 8,966 shares during the quarter. Private Advisor Group LLC’s holdings in Crown Castle were worth $2,867,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Magnolia Capital Advisors LLC raised its holdings in Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock worth $322,000 after purchasing an additional 73 shares during the last quarter. Summit Financial Group Inc. raised its holdings in Crown Castle by 5.5% during the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 85 shares during the last quarter. Great Lakes Advisors LLC raised its holdings in Crown Castle by 1.4% during the first quarter. Great Lakes Advisors LLC now owns 5,968 shares of the real estate investment trust’s stock worth $799,000 after purchasing an additional 85 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in Crown Castle by 2.4% during the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock worth $679,000 after purchasing an additional 86 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC raised its holdings in Crown Castle by 3.2% during the first quarter. Wealthcare Advisory Partners LLC now owns 2,815 shares of the real estate investment trust’s stock worth $377,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 90.27% of the company’s stock.

Crown Castle Trading Up 0.5 %

Shares of CCI opened at $104.43 on Tuesday. The business’s 50-day moving average price is $94.10 and its 200 day moving average price is $104.14. The stock has a market capitalization of $45.29 billion, a P/E ratio of 29.17, a P/E/G ratio of 2.56 and a beta of 0.66. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $153.98. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 3.28.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Thursday, October 19th. The real estate investment trust reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($1.08). The company had revenue of $1.67 billion during the quarter, compared to analysts’ expectations of $1.70 billion. Crown Castle had a return on equity of 21.85% and a net margin of 21.93%. During the same period in the prior year, the business posted $1.85 EPS. Analysts expect that Crown Castle Inc. will post 7.14 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $1.565 per share. The ex-dividend date is Thursday, December 14th. This represents a $6.26 annualized dividend and a yield of 5.99%. Crown Castle’s dividend payout ratio (DPR) is presently 174.86%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Raymond James reduced their price objective on Crown Castle from $126.00 to $104.00 and set an “outperform” rating for the company in a report on Friday, October 20th. Bank of America downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $115.00 price target for the company. in a research report on Thursday, August 10th. StockNews.com assumed coverage on Crown Castle in a research report on Thursday, October 5th. They set a “hold” rating for the company. Wells Fargo & Company lowered their price objective on Crown Castle from $110.00 to $100.00 and set an “underweight” rating for the company in a research report on Tuesday, October 17th. Finally, Citigroup lowered their price objective on Crown Castle from $138.00 to $126.00 and set a “buy” rating for the company in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $125.56.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.