Crown Castle Inc. (NYSE:CCI) Shares Sold by CVA Family Office LLC

CVA Family Office LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 46.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,051 shares of the real estate investment trust’s stock after selling 929 shares during the period. CVA Family Office LLC’s holdings in Crown Castle were worth $103,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCI. AMF Tjanstepension AB increased its stake in Crown Castle by 6.1% during the 2nd quarter. AMF Tjanstepension AB now owns 149,398 shares of the real estate investment trust’s stock valued at $14,629,000 after buying an additional 8,604 shares during the period. Park Avenue Securities LLC increased its position in shares of Crown Castle by 43.9% during the 2nd quarter. Park Avenue Securities LLC now owns 41,503 shares of the real estate investment trust’s stock valued at $4,055,000 after purchasing an additional 12,663 shares during the period. Kingswood Wealth Advisors LLC raised its stake in shares of Crown Castle by 15.6% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock worth $1,397,000 after buying an additional 1,926 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Crown Castle by 25.9% in the second quarter. Mather Group LLC. now owns 1,362 shares of the real estate investment trust’s stock valued at $144,000 after buying an additional 280 shares during the period. Finally, Trust Co. of Toledo NA OH boosted its stake in Crown Castle by 18.9% during the second quarter. Trust Co. of Toledo NA OH now owns 8,721 shares of the real estate investment trust’s stock valued at $852,000 after buying an additional 1,384 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCI has been the subject of several recent research reports. Scotiabank cut their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research note on Thursday, April 18th. TD Cowen upped their target price on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Raymond James reissued an “outperform” rating and issued a $126.00 target price (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Finally, Wells Fargo & Company decreased their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, April 19th. 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 stock currently has an average rating of “Hold” and a consensus price target of $113.20.

Crown Castle Stock Performance

Shares of CCI stock traded down $1.70 during trading on Wednesday, reaching $111.27. The company had a trading volume of 2,183,749 shares, compared to its average volume of 2,762,361. The firm’s 50 day simple moving average is $101.61 and its two-hundred day simple moving average is $102.77. Crown Castle Inc. has a one year low of $84.72 and a one year 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 0.42. The company has a market capitalization of $48.35 billion, a PE ratio of 34.77 and a beta of 0.83.

Crown Castle (NYSE:CCI) last released its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating 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 company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the firm posted $2.05 earnings per share. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently announced 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 195.63%.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.