Acorn Financial Advisory Services Inc. ADV Sells 112 Shares of Crown Castle Inc. (NYSE:CCI)

Acorn Financial Advisory Services Inc. ADV decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,058 shares of the real estate investment trust’s stock after selling 112 shares during the period. Acorn Financial Advisory Services Inc. ADV’s holdings in Crown Castle were worth $1,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle during the 4th quarter worth about $25,000. EntryPoint Capital LLC acquired a new stake in shares of Crown Castle during the 1st quarter worth approximately $27,000. Gables Capital Management Inc. lifted its holdings in 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 buying an additional 164 shares during the period. Richardson Financial Services Inc. acquired a new position in Crown Castle in the fourth quarter valued at approximately $30,000. Finally, Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on CCI. Raymond James restated an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. 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. Finally, BMO Capital Markets upped their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $113.53.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.39% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $112.02 on Tuesday. The company’s 50 day moving average price is $106.06 and its two-hundred day moving average price is $103.20. The firm has a market capitalization of $48.68 billion, a P/E ratio of 35.01 and a beta of 0.85. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was down 12.9% on a year-over-year basis. On average, equities analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.59%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s payout ratio is presently 195.63%.

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.