Crown Castle Inc. (NYSE:CCI) Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,180 shares of the real estate investment trust’s stock after selling 172 shares during the period. Harbor Investment Advisory LLC’s holdings in Crown Castle were worth $1,089,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Mirador Capital Partners LP lifted its stake in shares of Crown Castle by 5.2% in the 3rd quarter. Mirador Capital Partners LP now owns 2,760 shares of the real estate investment trust’s stock worth $327,000 after acquiring an additional 137 shares during the period. Czech National Bank lifted its stake in shares of Crown Castle by 6.9% in the 3rd quarter. Czech National Bank now owns 88,525 shares of the real estate investment trust’s stock worth $10,502,000 after acquiring an additional 5,723 shares during the period. AMF Tjanstepension AB lifted its stake in Crown Castle by 11.7% during the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock valued at $19,835,000 after purchasing an additional 17,524 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Crown Castle by 0.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 59,236 shares of the real estate investment trust’s stock valued at $7,027,000 after purchasing an additional 307 shares during the last quarter. Finally, Trust Co. of Toledo NA OH lifted its stake in Crown Castle by 7.1% during the third quarter. Trust Co. of Toledo NA OH now owns 9,342 shares of the real estate investment trust’s stock valued at $1,108,000 after purchasing an additional 621 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Down 2.5 %

CCI stock opened at $111.48 on Friday. The company has a 50 day moving average of $113.83 and a two-hundred day moving average of $104.55. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.92. The company has a market cap of $48.45 billion, a price-to-earnings ratio of 34.84 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter last year, the firm earned $2.05 earnings per share. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, equities analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.62%. Crown Castle’s dividend payout ratio is currently 195.63%.

Insider Activity at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on CCI. Royal Bank of Canada increased their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. The Goldman Sachs Group increased their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Bank of America boosted their price objective on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $115.40.

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.