SeaCrest Wealth Management LLC Sells 4,043 Shares of Crown Castle Inc. (NYSE:CCI)

SeaCrest Wealth Management LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 63.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,300 shares of the real estate investment trust’s stock after selling 4,043 shares during the period. SeaCrest Wealth Management LLC’s holdings in Crown Castle were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC bought a new position in Crown Castle in the third quarter worth about $25,000. Rosenberg Matthew Hamilton raised its stake in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares in the last quarter. FNY Investment Advisers LLC increased its stake in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle during the third quarter valued at approximately $47,000. Finally, Friedenthal Financial bought a new position in shares of Crown Castle during the third quarter valued at approximately $50,000. 90.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on CCI shares. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Royal Bank of Canada raised their target price on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $113.00.

Crown Castle Trading Up 0.4 %

Shares of CCI stock opened at $91.03 on Friday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50 day moving average is $96.66 and its 200 day moving average is $105.54. The stock has a market capitalization of $39.56 billion, a P/E ratio of 32.28 and a beta of 0.87.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The company had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. During the same quarter in the prior year, the business posted $1.77 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.