Crown Castle Inc. (NYSE:CCI) Shares Sold by Bbjs Financial Advisors LLC

Bbjs Financial Advisors LLC decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 35.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,946 shares of the real estate investment trust’s stock after selling 4,377 shares during the period. Crown Castle makes up 0.3% of Bbjs Financial Advisors LLC’s portfolio, making the stock its 28th biggest position. Bbjs Financial Advisors LLC’s holdings in Crown Castle were worth $776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Waterfront Wealth Inc. grew its stake in Crown Castle by 1.9% during the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock worth $635,000 after buying an additional 101 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Crown Castle by 12.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares during the last quarter. Gilbert & Cook Inc. raised its position in Crown Castle by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 110 shares during the last quarter. Benedict Financial Advisors Inc. boosted its stake in Crown Castle by 4.0% in the first quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock worth $312,000 after purchasing an additional 113 shares in the last quarter. Finally, HM Payson & Co. grew its holdings in shares of Crown Castle by 5.3% during the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 114 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Crown Castle Stock Down 0.3 %

Shares of NYSE:CCI traded down $0.37 during midday trading on Tuesday, reaching $110.36. The company had a trading volume of 1,504,693 shares, compared to its average volume of 2,744,773. The business’s 50 day moving average price is $102.42 and its 200 day moving average price is $102.85. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $119.50. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a market cap of $47.96 billion, a PE ratio of 34.62 and a beta of 0.83.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results 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. The firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 earnings per share. Research analysts forecast that Crown Castle Inc. will post 6.63 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.67%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Raymond James reissued an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. TD Cowen boosted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Barclays lifted their target price 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. Finally, Scotiabank dropped their price objective on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a report on Thursday, April 18th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $113.53.

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.