Sage Mountain Advisors LLC Buys Shares of 2,552 Crown Castle Inc. (NYSE:CCI)

Sage Mountain Advisors LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,552 shares of the real estate investment trust's stock, valued at approximately $266,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Twin Tree Management LP purchased a new stake in shares of Crown Castle during the fourth quarter valued at $25,000. Opal Wealth Advisors LLC bought a new position in Crown Castle in the first quarter valued at about $26,000. Iron Horse Wealth Management LLC bought a new position in Crown Castle in the first quarter valued at about $26,000. American National Bank & Trust bought a new position in Crown Castle in the first quarter valued at about $29,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Crown Castle by 62.1% in the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 133 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent research reports. KeyCorp increased their target price on Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a report on Thursday, May 1st. JMP Securities raised their price objective on Crown Castle from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 1st. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. UBS Group raised their price objective on Crown Castle from $118.00 to $124.00 and gave the stock a "buy" rating in a research note on Tuesday, July 8th. Finally, New Street Research raised Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $113.38.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $0.95 on Friday, reaching $105.19. The company had a trading volume of 5,210,610 shares, compared to its average volume of 2,942,225. The firm has a market cap of $45.81 billion, a price-to-earnings ratio of -9.78, a P/E/G ratio of 0.81 and a beta of 0.88. The firm's 50-day moving average price is $101.14 and its two-hundred day moving average price is $97.75. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. The company had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the firm posted $1.72 EPS. Crown Castle's revenue for the quarter was down 4.8% compared to the same quarter last year. As a group, analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date was Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is presently -39.50%.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 3,600 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the transaction, the vice president directly owned 6,465 shares in the company, valued at $689,944.80. The trade was a 35.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total value of $850,960.00. Following the transaction, the executive vice president owned 20,528 shares in the company, valued at approximately $2,183,563.36. This trade represents a 28.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,600 shares of company stock valued at $3,362,752 in the last ninety days. Corporate insiders own 0.10% of the company's stock.

Crown Castle 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.