Stock Yards Bank & Trust Co. Sells 2,253 Shares of Crown Castle Inc. (NYSE:CCI)

Stock Yards Bank & Trust Co. lowered its position in Crown Castle Inc. (NYSE:CCI) by 12.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,810 shares of the real estate investment trust’s stock after selling 2,253 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Crown Castle were worth $1,545,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CCI. Gilbert & Cook Inc. raised its stake in shares of Crown Castle by 3.7% in the fourth 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 during the last quarter. Level Four Advisory Services LLC raised its position in Crown Castle by 32.3% in the 4th quarter. Level Four Advisory Services LLC now owns 3,184 shares of the real estate investment trust’s stock worth $367,000 after purchasing an additional 777 shares during the last quarter. Independent Advisor Alliance raised its position in Crown Castle by 78.8% in the 4th quarter. Independent Advisor Alliance now owns 4,921 shares of the real estate investment trust’s stock worth $567,000 after purchasing an additional 2,169 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Crown Castle by 8.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 329,980 shares of the real estate investment trust’s stock worth $38,010,000 after purchasing an additional 26,880 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its position in Crown Castle by 14.2% in the 4th quarter. Coldstream Capital Management Inc. now owns 7,968 shares of the real estate investment trust’s stock worth $918,000 after purchasing an additional 992 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE CCI opened at $119.62 on Wednesday. The firm has a market cap of $51.98 billion, a PE ratio of 37.38 and a beta of 0.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The company has a fifty day moving average price of $110.69 and a 200 day moving average price of $103.92.

Crown Castle (NYSE:CCI) last announced 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. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.05 EPS. Research analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.23%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s payout ratio is presently 195.63%.

Insiders Place Their Bets

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of several research analyst reports. Bank of America boosted their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. TD Cowen lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Royal Bank of Canada lifted their target price 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. Finally, Raymond James reaffirmed an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a report 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 MarketBeat, Crown Castle currently has an average rating of “Hold” and an average target price of $113.53.

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.