Quent Capital LLC Sells 1,025 Shares of Crown Castle Inc. (NYSE:CCI)

Quent Capital LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 43.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,321 shares of the real estate investment trust’s stock after selling 1,025 shares during the quarter. Quent Capital LLC’s holdings in Crown Castle were worth $129,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Valley National Advisers Inc. raised its position in shares of Crown Castle by 51.1% in the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $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 4th 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. raised its position in shares of Crown Castle by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after buying an additional 101 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of 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 buying an additional 108 shares in the last quarter. Finally, Gilbert & Cook Inc. raised its position in shares of 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 buying an additional 110 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCI has been the subject of several analyst reports. Royal Bank of Canada boosted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. TD Cowen upped 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. BMO Capital Markets upped their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Bank of America upped their price objective on shares of Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective for the company. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus target price of $113.20.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.39% of the company’s stock.

Crown Castle Trading Up 2.0 %

Shares of NYSE:CCI traded up $2.19 during trading on Tuesday, reaching $112.96. The stock had a trading volume of 3,113,524 shares, compared to its average volume of 2,766,189. The firm’s fifty day moving average is $101.31 and its 200 day moving average is $102.74. 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 Inc. has a 52 week low of $84.72 and a 52 week high of $119.50. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of 35.30 and a beta of 0.83.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data 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 period in the prior year, the firm posted $2.05 EPS. The company’s quarterly revenue was down 12.9% on a year-over-year basis. As a group, equities analysts forecast that Crown Castle Inc. will post 6.63 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is currently 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.