WBH Advisory Inc. Has $962,000 Stake in Crown Castle Inc. (NYSE:CCI)

WBH Advisory Inc. lowered its holdings in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 1.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,585 shares of the real estate investment trust’s stock after selling 100 shares during the period. WBH Advisory Inc.’s holdings in Crown Castle were worth $962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Prudential PLC grew its position in Crown Castle by 72.9% in the first quarter. Prudential PLC now owns 18,418 shares of the real estate investment trust’s stock valued at $3,400,000 after acquiring an additional 7,767 shares during the period. B. Metzler seel. Sohn & Co. AG raised its stake in shares of Crown Castle by 0.9% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 28,104 shares of the real estate investment trust’s stock valued at $5,188,000 after acquiring an additional 258 shares during the last quarter. Graypoint LLC boosted its holdings in shares of Crown Castle by 7.7% in the 1st quarter. Graypoint LLC now owns 2,093 shares of the real estate investment trust’s stock worth $386,000 after acquiring an additional 149 shares in the last quarter. Capital Investment Advisory Services LLC bought a new stake in Crown Castle during the 1st quarter worth approximately $234,000. Finally, Oppenheimer & Co. Inc. raised its position in Crown Castle by 20.5% in the 1st quarter. Oppenheimer & Co. Inc. now owns 31,122 shares of the real estate investment trust’s stock valued at $5,745,000 after purchasing an additional 5,295 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In related news, Director Kevin A. Stephens acquired 699 shares of the stock in a transaction dated Friday, July 22nd. The stock was bought at an average price of $173.60 per share, with a total value of $121,346.40. Following the completion of the transaction, the director now directly owns 10,703 shares of the company’s stock, valued at $1,858,040.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CCI. Credit Suisse Group lowered their target price on Crown Castle to $213.00 in a research note on Friday, July 22nd. Wells Fargo & Company dropped their target price on shares of Crown Castle from $180.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, July 19th. Jefferies Financial Group raised shares of 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. The Goldman Sachs Group dropped their price objective on shares of Crown Castle from $189.00 to $166.00 and set a “neutral” rating for the company in a research report on Tuesday, July 12th. Finally, KeyCorp decreased their price objective on Crown Castle from $219.00 to $205.00 and set an “overweight” rating on the stock in a research report on Friday, July 1st. Two analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and an average price target of $195.20.

Crown Castle Stock Performance

Shares of CCI stock opened at $163.42 on Tuesday. The stock has a 50-day moving average of $174.43 and a 200-day moving average of $178.00. Crown Castle Inc. has a one year low of $153.70 and a one year high of $209.87. The stock has a market cap of $70.77 billion, a PE ratio of 45.90 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.

Crown Castle (NYSE:CCIGet Rating) last issued 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). Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The firm had revenue of $1.73 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period in the previous year, the company posted $1.71 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, sell-side analysts expect that Crown Castle Inc. will post 7.03 earnings per share for the current year.

Crown Castle Dividend Announcement

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

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

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

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