Wealth Advisory Solutions LLC Sells 1,034 Shares of Crown Castle Inc. (NYSE:CCI)

Wealth Advisory Solutions LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,173 shares of the real estate investment trust’s stock after selling 1,034 shares during the quarter. Wealth Advisory Solutions LLC’s holdings in Crown Castle were worth $2,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Crown Castle during the 1st quarter worth about $27,000. Asset Dedication LLC increased its position in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares in the last quarter. ORG Partners LLC acquired a new position in Crown Castle during the second quarter valued at approximately $34,000. Finally, New Millennium Group LLC bought a new position in Crown Castle in the second quarter valued at approximately $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Price Performance

CCI stock traded down $2.26 during trading on Monday, reaching $110.12. 287,401 shares of the company were exchanged, compared to its average volume of 2,625,536. The company has a market capitalization of $47.85 billion, a price-to-earnings ratio of 39.85 and a beta of 0.85. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.43. The company has a 50-day moving average of $114.03 and a two-hundred day moving average of $105.14. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The firm had revenue of $1.65 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts predict that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a yield of 5.68%. Crown Castle’s payout ratio is 221.99%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday. JPMorgan Chase & Co. increased their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. Barclays boosted their price objective on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Twelve equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $116.47.

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.