Kingswood Wealth Advisors LLC Buys 1,926 Shares of Crown Castle Inc. (NYSE:CCI)

Kingswood Wealth Advisors LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,301 shares of the real estate investment trust’s stock after acquiring an additional 1,926 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Crown Castle were worth $1,397,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. bought a new position in Crown Castle during the fourth quarter valued at $25,000. Rational Advisors LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $27,000. Gables Capital Management Inc. raised its stake in shares of Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares during the period. Finally, Richardson Financial Services Inc. purchased a new stake in shares of Crown Castle in the fourth quarter valued at $30,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock traded down $1.70 during mid-day trading on Wednesday, reaching $111.27. 2,183,862 shares of the company traded hands, compared to its average volume of 2,762,346. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The firm’s fifty day moving average is $101.61 and its two-hundred day moving average is $102.77. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42. The company has a market capitalization of $48.35 billion, a price-to-earnings ratio of 35.30 and a beta of 0.83.

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

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.63%. The ex-dividend date was Friday, June 14th. Crown Castle’s dividend payout ratio is presently 195.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCI shares. The Goldman Sachs Group started coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price on the stock. BMO Capital Markets upped their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Raymond James reiterated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Finally, TD Cowen lifted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.20.

Insiders Place Their Bets

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

About Crown Castle

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.