B. Riley Wealth Advisors Inc. Has $4.12 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

B. Riley Wealth Advisors Inc. raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 30.0% in the first quarter, HoldingsChannel reports. The fund owned 38,965 shares of the real estate investment trust’s stock after acquiring an additional 8,990 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Crown Castle were worth $4,124,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Valley National Advisers Inc. lifted its holdings in shares of Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after buying an additional 97 shares in the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Crown Castle by 17.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after buying an additional 100 shares in the last quarter. Waterfront Wealth Inc. increased its stake in Crown Castle by 1.9% during the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock worth $635,000 after acquiring an additional 101 shares during the period. Gilbert & Cook Inc. raised its holdings 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 acquiring an additional 110 shares in the last quarter. Finally, Benedict Financial Advisors Inc. lifted its position in shares of Crown Castle by 4.0% during the 1st quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock valued at $312,000 after acquiring an additional 113 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. 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. Royal Bank of Canada boosted their price objective on 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, 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. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $114.88.

Crown Castle Stock Up 0.6 %

NYSE:CCI traded up $0.66 on Wednesday, hitting $110.08. The stock had a trading volume of 2,598,749 shares, compared to its average volume of 2,762,026. The firm’s fifty day simple moving average is $100.25 and its two-hundred day simple moving average is $102.68. The stock has a market cap of $47.83 billion, a P/E ratio of 34.19 and a beta of 0.83. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.42 and a current ratio of 0.43.

Crown Castle (NYSE:CCI) last issued its quarterly 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. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s quarterly revenue was down 12.9% on a year-over-year basis. During the same period in the previous year, the firm earned $2.05 EPS. Analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $1.565 per share. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.69%. Crown Castle’s dividend payout ratio is presently 195.63%.

Insider Buying and Selling

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 value of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a filing with the SEC, which can be accessed 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.