Dynamic Advisor Solutions LLC Trims Stake in Crown Castle Inc. (NYSE:CCI)

Dynamic Advisor Solutions LLC lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,951 shares of the real estate investment trust’s stock after selling 513 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Crown Castle were worth $1,299,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Biltmore Family Office LLC raised its holdings in shares of Crown Castle by 9.3% during the fourth quarter. Biltmore Family Office LLC now owns 4,116 shares of the real estate investment trust’s stock valued at $474,000 after purchasing an additional 350 shares during the last quarter. Gillson Capital LP purchased a new stake in Crown Castle during the fourth quarter valued at approximately $8,702,000. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle in the fourth quarter worth $2,753,000. Hobbs Group Advisors LLC purchased a new stake in shares of Crown Castle in the fourth quarter worth $488,000. Finally, FIL Ltd boosted its position in shares of Crown Castle by 1.4% during the fourth quarter. FIL Ltd now owns 3,528,899 shares of the real estate investment trust’s stock worth $406,494,000 after acquiring an additional 48,892 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the 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 sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is owned by insiders.

Crown Castle Stock Down 1.4 %

Crown Castle stock opened at $109.94 on Friday. The business has a fifty day moving average of $113.97 and a two-hundred day moving average of $104.72. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The firm has a market cap of $47.78 billion, a P/E ratio of 34.36 and a beta of 0.85. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. On average, analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.69%. The ex-dividend date was Friday, September 13th. Crown Castle’s payout ratio is 195.63%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America raised their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. 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 research note on Friday, June 14th. Deutsche Bank Aktiengesellschaft upped their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group upped their target price on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, Barclays upped their target price on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $115.67.

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.