Transcend Capital Advisors LLC Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Transcend Capital Advisors LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 4.7% in the second quarter, HoldingsChannel reports. The firm owned 8,475 shares of the real estate investment trust’s stock after selling 419 shares during the period. Transcend Capital Advisors LLC’s holdings in Crown Castle were worth $1,427,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. IAG Wealth Partners LLC lifted its stake in shares of 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 purchasing an additional 100 shares during the last quarter. North Star Investment Management Corp. purchased a new stake in shares of Crown Castle during the 1st quarter worth $25,000. HHM Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth $28,000. Blume Capital Management Inc. purchased a new stake in shares of Crown Castle during the 1st quarter worth $29,000. Finally, HWG Holdings LP purchased a new stake in shares of Crown Castle during the 4th quarter worth $34,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.1 %

Crown Castle stock opened at $163.42 on Tuesday. The firm has a market cap of $70.77 billion, a price-to-earnings ratio of 45.90 and a beta of 0.60. Crown Castle Inc. has a 52 week low of $153.70 and a 52 week high of $209.87. The business’s 50-day moving average price is $174.61 and its 200 day moving average price is $178.11. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70.

Crown Castle (NYSE:CCIGet Rating) last posted its earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing the consensus estimate of $1.71 by ($0.74). The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The firm’s revenue was up 9.5% on a year-over-year basis. During the same period last year, the business earned $1.71 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 7.03 earnings per share for the current year.

Crown Castle Announces Dividend

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

Insider Buying and Selling

In other Crown Castle news, Director Kevin A. Stephens acquired 699 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were bought at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the acquisition, the director now owns 10,703 shares in the company, valued at $1,858,040.80. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CCI shares. Morgan Stanley decreased their price target on Crown Castle from $190.00 to $188.00 and set an “overweight” rating for the company in a research note on Friday. Jefferies Financial Group upgraded Crown Castle from a “hold” rating to a “buy” rating and increased their price target for the company from $191.00 to $200.00 in a research note on Thursday, June 30th. Deutsche Bank Aktiengesellschaft increased their price target on Crown Castle from $183.00 to $185.00 in a research note on Friday, July 22nd. Barclays decreased their price target on Crown Castle from $214.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, August 26th. Finally, KeyCorp decreased their price target on Crown Castle from $219.00 to $205.00 and set an “overweight” rating for the company in a research note on Friday, July 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $195.20.

About Crown Castle

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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.

See Also

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCIGet Rating).

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

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