Hexagon Capital Partners LLC Sells 401 Shares of Crown Castle Inc. (NYSE:CCI)

Hexagon Capital Partners LLC reduced its position in Crown Castle Inc. (NYSE:CCI) by 29.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 958 shares of the real estate investment trust’s stock after selling 401 shares during the period. Hexagon Capital Partners LLC’s holdings in Crown Castle were worth $114,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Pathway Financial Advisers LLC lifted its stake in shares of Crown Castle by 2.4% in the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares in the last quarter. Prosperity Consulting Group LLC lifted its position in Crown Castle by 4.4% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 95 shares in the last quarter. True North Advisors LLC lifted its position in Crown Castle by 4.2% in the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares in the last quarter. Granite Investment Partners LLC boosted its stake in Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Crown Castle by 12.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CCI. Barclays raised their target price on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Raymond James restated an “outperform” rating and set a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $115.67.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.39% of the company’s stock.

Crown Castle Stock Down 1.4 %

CCI stock opened at $109.94 on Friday. The stock has a fifty day moving average of $113.97 and a 200-day moving average of $104.72. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The company has a market capitalization of $47.78 billion, a price-to-earnings ratio of 40.27 and a beta of 0.85. 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 (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.62 billion. During the same quarter last year, the business earned $2.05 earnings per share. The company’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, equities research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.69%. Crown Castle’s payout ratio is 229.30%.

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.