Wealth Enhancement Advisory Services LLC Reduces Holdings in Crown Castle Inc. $CCI

Wealth Enhancement Advisory Services LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 8.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 121,508 shares of the real estate investment trust’s stock after selling 10,779 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Crown Castle were worth $10,587,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Twin Peaks Wealth Advisors LLC acquired a new position in Crown Castle in the second quarter valued at approximately $27,000. Wiser Advisor Group LLC acquired a new stake in Crown Castle during the third quarter worth $29,000. LRI Investments LLC purchased a new stake in Crown Castle in the third quarter valued at $29,000. Triumph Capital Management acquired a new position in shares of Crown Castle in the 3rd quarter valued at $31,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Crown Castle during the 3rd quarter worth $31,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE CCI opened at $77.88 on Friday. The company has a market cap of $33.96 billion, a P/E ratio of 77.11, a P/E/G ratio of 0.39 and a beta of 0.96. The stock has a 50-day moving average of $86.49 and a two-hundred day moving average of $89.95. Crown Castle Inc. has a 1-year low of $75.96 and a 1-year high of $115.76.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $1.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.5%. Crown Castle’s payout ratio is 420.79%.

Analysts Set New Price Targets

CCI has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Sanford C. Bernstein initiated coverage on shares of Crown Castle in a research note on Thursday, March 5th. They set an “outperform” rating and a $102.00 target price for the company. New Street Research cut shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price target for the company. in a research report on Monday, January 5th. KeyCorp decreased their price objective on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. Finally, Weiss Ratings upgraded shares of Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $99.86.

Insider Buying and Selling

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the sale, the executive vice president owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the sale, the vice president owned 5,800 shares in the company, valued at approximately $507,442. The trade was a 34.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.