Dynamic Advisor Solutions LLC Sells 3,998 Shares of Crown Castle Inc. (NYSE:CCI)

Dynamic Advisor Solutions LLC lessened its stake in Crown Castle Inc. (NYSE:CCI) by 25.9% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,464 shares of the real estate investment trust’s stock after selling 3,998 shares during the quarter. Dynamic Advisor Solutions LLC’s holdings in Crown Castle were worth $1,120,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in CCI. Allspring Global Investments Holdings LLC lifted its stake in Crown Castle by 67.2% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 47,274 shares of the real estate investment trust’s stock valued at $5,446,000 after acquiring an additional 19,000 shares in the last quarter. Sapient Capital LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $220,000. Louisiana State Employees Retirement System bought a new stake in shares of Crown Castle in the fourth quarter worth $3,018,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its holdings in Crown Castle by 6.0% during the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 7,107 shares of the real estate investment trust’s stock worth $819,000 after purchasing an additional 404 shares during the last quarter. Finally, Strs Ohio grew its position in Crown Castle by 7.7% in the fourth quarter. Strs Ohio now owns 183,887 shares of the real estate investment trust’s stock valued at $21,181,000 after purchasing an additional 13,098 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CCI shares. BMO Capital Markets upped their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Bank of America upped their price target 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. Argus downgraded shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. The Goldman Sachs Group began coverage on shares of Crown Castle in a report on Monday, July 1st. They issued a “neutral” rating and a $104.00 target price on the stock. Finally, TD Cowen lifted their price target on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $113.20.

Crown Castle Price Performance

Shares of CCI stock traded down $0.11 on Tuesday, hitting $110.62. 88,848 shares of the company’s stock were exchanged, compared to its average volume of 2,735,639. The company has a 50 day moving average of $102.42 and a 200 day moving average of $102.85. The stock has a market cap of $48.07 billion, a P/E ratio of 34.59 and a beta of 0.83. 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 Inc. has a 12 month low of $84.72 and a 12 month high of $119.50.

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, 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 firm had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter last year, the business posted $2.05 earnings per share. The company’s quarterly revenue was down 12.9% on a year-over-year basis. On average, equities research analysts predict that Crown Castle Inc. will post 6.63 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.66%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is currently 195.63%.

Insider Transactions at Crown Castle

In other 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 transaction 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 $7,792,172.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is owned by company insiders.

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.