Crown Castle Inc. (NYSE:CCI) Shares Sold by Sunbelt Securities Inc.

Sunbelt Securities Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 56.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,281 shares of the real estate investment trust’s stock after selling 2,942 shares during the period. Sunbelt Securities Inc.’s holdings in Crown Castle were worth $241,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle in the fourth quarter valued at about $25,000. Gables Capital Management Inc. increased its holdings in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 164 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $30,000. Valley National Advisers Inc. lifted its holdings in 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 valued at $33,000 after acquiring an additional 97 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its holdings in Crown Castle by 126.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 174 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.3 %

CCI stock opened at $97.70 on Friday. The company’s 50 day moving average price is $98.42 and its 200 day moving average price is $104.74. The firm has a market capitalization of $42.45 billion, a price-to-earnings ratio of 30.53, a PEG ratio of 2.58 and a beta of 0.82. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42.

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

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

CCI has been the topic of a number of research analyst reports. Royal Bank of Canada reduced their target price on Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a research report on Tuesday, May 7th. Raymond James restated an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Bank of America lowered 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. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research note on Monday, April 22nd. Finally, Barclays increased their price objective on shares of Crown Castle from $111.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 23rd. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus price target of $114.21.

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.