Atlantic Union Bankshares Corp Sells 4,595 Shares of Crown Castle Inc. (NYSE:CCI)

Atlantic Union Bankshares Corp lowered its stake in Crown Castle Inc. (NYSE:CCI) by 33.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,000 shares of the real estate investment trust’s stock after selling 4,595 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Crown Castle were worth $952,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Register Financial Advisors LLC acquired a new position in shares of Crown Castle during the first quarter valued at about $48,000. Hengehold Capital Management LLC raised its stake in Crown Castle by 1.0% during the 1st quarter. Hengehold Capital Management LLC now owns 19,732 shares of the real estate investment trust’s stock worth $2,088,000 after buying an additional 204 shares during the period. Ausbil Investment Management Ltd boosted its holdings in Crown Castle by 4.2% in the first quarter. Ausbil Investment Management Ltd now owns 51,765 shares of the real estate investment trust’s stock worth $5,397,000 after acquiring an additional 2,079 shares in the last quarter. G&S Capital LLC bought a new position in Crown Castle in the first quarter worth approximately $1,303,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Crown Castle in the first quarter valued at approximately $106,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 0.3 %

CCI stock opened at $97.70 on Friday. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The stock has a market cap of $42.45 billion, a P/E ratio of 30.53, a P/E/G ratio of 2.58 and a beta of 0.82. The stock’s fifty day simple moving average is $98.42 and its two-hundred day simple moving average is $104.74. The company has a current ratio of 0.42, a quick ratio of 0.42 and a debt-to-equity ratio of 3.73.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion during the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. Crown Castle’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the firm posted $1.91 earnings per share. Analysts expect that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were paid a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 6.41%. Crown Castle’s payout ratio is 195.63%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Royal Bank of Canada reduced their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating for the company in a research report on Monday, April 22nd. Barclays lifted their price target on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company lowered their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus target price of $114.21.

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.