Crown Castle Inc. (NYSE:CCI) Position Cut by Dynamic Advisor Solutions LLC

Dynamic Advisor Solutions LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 25.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,464 shares of the real estate investment trust’s stock after selling 3,998 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Crown Castle were worth $1,120,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Crown Castle by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock valued at $5,990,991,000 after purchasing an additional 673,243 shares in the last quarter. Cohen & Steers Inc. boosted its stake in Crown Castle by 7.9% during the 4th quarter. Cohen & Steers Inc. now owns 11,375,567 shares of the real estate investment trust’s stock valued at $1,310,559,000 after purchasing an additional 834,198 shares in the last quarter. Wellington Management Group LLP boosted its stake in Crown Castle by 11.1% during the 4th quarter. Wellington Management Group LLP now owns 11,260,932 shares of the real estate investment trust’s stock valued at $1,297,147,000 after purchasing an additional 1,126,394 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Crown Castle by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,478,477 shares of the real estate investment trust’s stock valued at $625,975,000 after purchasing an additional 122,948 shares in the last quarter. Finally, Norges Bank bought a new position in Crown Castle during the 4th quarter valued at $581,503,000. 90.77% of the stock is owned by institutional investors.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Down 0.1 %

Shares of NYSE:CCI traded down $0.11 during midday trading on Tuesday, hitting $110.62. 88,848 shares of the stock were exchanged, compared to its average volume of 2,735,639. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The business’s fifty day simple moving average is $102.42 and its two-hundred day simple moving average is $102.85. The company has a market capitalization of $48.07 billion, a PE ratio of 34.59 and a beta of 0.83.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same period last year, the company earned $2.05 earnings per share. Crown Castle’s quarterly revenue was down 12.9% compared to the same quarter last year. As a group, research analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.66%. Crown Castle’s dividend payout ratio is 195.63%.

Analyst Ratings Changes

CCI has been the subject of a number of research reports. Barclays increased their price target on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Argus lowered Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Scotiabank reduced their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Finally, Wells Fargo & Company reduced their price objective on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average price target of $113.20.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 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.