Salvus Wealth Management LLC Sells 2,232 Shares of Crown Castle Inc. (NYSE:CCI)

Salvus Wealth Management LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 33.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,409 shares of the real estate investment trust’s stock after selling 2,232 shares during the period. Salvus Wealth Management LLC’s holdings in Crown Castle were worth $400,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in CCI. Pinnacle Bancorp Inc. boosted its stake in shares of Crown Castle by 13.0% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after purchasing an additional 90 shares in the last quarter. Pathway Financial Advisers LLC boosted its position in Crown Castle by 2.4% during the second quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after buying an additional 91 shares during the period. True North Advisors LLC boosted its position in Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 95 shares during the period. Granite Investment Partners LLC grew its stake in shares of Crown Castle by 0.5% during the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after buying an additional 100 shares during the last quarter. Finally, Malaga Cove Capital LLC increased its holdings in shares of Crown Castle by 1.8% in the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 100 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of analyst reports. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $105.00 to $100.00 in a research note on Tuesday, December 10th. JPMorgan Chase & Co. lifted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. The Goldman Sachs Group raised their price target on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Performance

Crown Castle stock opened at $90.67 on Friday. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock’s 50 day simple moving average is $97.23 and its two-hundred day simple moving average is $105.67. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market cap of $39.40 billion, a price-to-earnings ratio of 32.15 and a beta of 0.87.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing the consensus estimate of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.90%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

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.