Crown Castle Inc. (NYSE:CCI) Shares Sold by Arden Trust Co

Arden Trust Co trimmed its position in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 50.2% in the 2nd quarter, Holdings reports. The firm owned 1,429 shares of the real estate investment trust’s stock after selling 1,441 shares during the period. Arden Trust Co’s holdings in Crown Castle were worth $241,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Crown Castle by 10.5% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,886 shares of the real estate investment trust’s stock valued at $1,646,000 after acquiring an additional 752 shares during the last quarter. Level Four Advisory Services LLC acquired a new position in Crown Castle in the fourth quarter valued at about $400,000. Gamco Investors INC. ET AL purchased a new stake in Crown Castle during the fourth quarter worth about $240,000. Schroder Investment Management Group increased its stake in Crown Castle by 21.5% during the fourth quarter. Schroder Investment Management Group now owns 96,586 shares of the real estate investment trust’s stock worth $20,161,000 after purchasing an additional 17,083 shares during the period. Finally, Hilltop Holdings Inc. increased its stake in shares of Crown Castle by 18.4% during the fourth quarter. Hilltop Holdings Inc. now owns 10,776 shares of the real estate investment trust’s stock worth $2,249,000 after buying an additional 1,678 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE:CCI opened at $161.34 on Wednesday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 0.69 and a current ratio of 0.69. The stock’s 50-day simple moving average is $174.43 and its 200 day simple moving average is $178.00. The company has a market cap of $69.87 billion, a P/E ratio of 45.32 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.

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

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $1.47 per share. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Wednesday, September 14th. Crown Castle’s dividend payout ratio is presently 165.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of Crown Castle from $190.00 to $188.00 and set an “overweight” rating on the stock in a research note on Friday, September 16th. Wells Fargo & Company dropped their price target on Crown Castle from $180.00 to $175.00 and set an “underweight” rating for the company in a research report on Tuesday, July 19th. Credit Suisse Group decreased their price target on Crown Castle to $213.00 in a research note on Friday, July 22nd. raised Crown Castle from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Finally, 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. 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. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $195.20.

Insider Transactions at Crown Castle

In other news, Director Kevin A. Stephens acquired 699 shares of Crown Castle stock in a transaction dated 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 completion of the acquisition, the director now directly owns 10,703 shares in the company, valued at approximately $1,858,040.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.47% of the company’s stock.

Crown Castle 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.

Further Reading

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

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