Crown Castle Inc. (NYSE:CCI) Shares Sold by Gradient Investments LLC

Gradient Investments LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 0.7% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 76,953 shares of the real estate investment trust’s stock after selling 508 shares during the period. Gradient Investments LLC’s holdings in Crown Castle were worth $12,957,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IAG Wealth Partners LLC lifted its position in Crown Castle by 277.8% during the 4th quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. North Star Investment Management Corp. purchased a new stake in Crown Castle during the 1st quarter worth approximately $25,000. HHM Wealth Advisors LLC purchased a new stake in Crown Castle during the 1st quarter worth approximately $28,000. Blume Capital Management Inc. purchased a new stake in Crown Castle during the 1st quarter worth approximately $29,000. Finally, HWG Holdings LP purchased a new stake in Crown Castle during the 4th quarter worth approximately $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.0 %

NYSE:CCI opened at $163.22 on Friday. Crown Castle Inc. has a 12-month low of $153.70 and a 12-month high of $209.87. The firm has a market capitalization of $70.68 billion, a P/E ratio of 45.85 and a beta of 0.60. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69. The business has a 50 day simple moving average of $174.61 and a 200 day simple moving average of $178.06.

Crown Castle (NYSE:CCIGet Rating) last released its quarterly earnings data on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same quarter in the prior year, the firm earned $1.71 EPS. The company’s revenue for the quarter was up 9.5% compared to the same quarter last year. Equities research analysts predict that Crown Castle Inc. will post 7.03 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $1.47 per share. The ex-dividend date is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a yield of 3.60%. Crown Castle’s dividend payout ratio is currently 165.17%.

Insider Activity at Crown Castle

In other Crown Castle news, Director Kevin A. Stephens purchased 699 shares of Crown Castle stock in a transaction on Friday, July 22nd. The stock was bought at an average price of $173.60 per share, for a total transaction of $121,346.40. Following the transaction, the director now owns 10,703 shares of the company’s stock, valued at approximately $1,858,040.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Crown Castle from $183.00 to $185.00 in a report on Friday, July 22nd. Cowen dropped their price objective on Crown Castle to $195.00 in a report on Friday, July 22nd. Credit Suisse Group dropped their price objective on Crown Castle to $213.00 in a report on Friday, July 22nd. Barclays dropped their price objective on Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, August 26th. Finally, The Goldman Sachs Group lowered their price target on Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a report on Tuesday, July 12th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus target price of $195.20.

Crown Castle Company Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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