Arkadios Wealth Advisors Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Key Points

• Arkadios Wealth Advisors increased its stake in Crown Castle Inc. by 95.8%, owning a total of 24,371 shares valued at $2,540,000 as per its latest SEC filing.
• Crown Castle reported a quarter earnings of $1.02 EPS, exceeding analysts' estimates, although its revenue declined 4.2% year-over-year.
• The company has recently cut its dividend, disbursing a quarterly amount of $1.0625 per share, representing an annual yield of 4.0%.

Arkadios Wealth Advisors boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 95.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,371 shares of the real estate investment trust's stock after buying an additional 11,925 shares during the quarter. Arkadios Wealth Advisors' holdings in Crown Castle were worth $2,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. CHICAGO TRUST Co NA increased its position in Crown Castle by 3.0% in the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock worth $368,000 after buying an additional 104 shares during the last quarter. Abel Hall LLC boosted its position in Crown Castle by 1.8% during the first quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock worth $666,000 after purchasing an additional 115 shares during the period. Beacon Capital Management LLC boosted its position in Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after purchasing an additional 120 shares during the period. Oregon Public Employees Retirement Fund boosted its position in Crown Castle by 0.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after purchasing an additional 120 shares during the period. Finally, Cornerstone Advisory LLC boosted its position in Crown Castle by 4.7% during the first quarter. Cornerstone Advisory LLC now owns 2,940 shares of the real estate investment trust's stock worth $313,000 after purchasing an additional 132 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 1.9%

Crown Castle stock opened at $104.97 on Friday. The company has a market capitalization of $45.71 billion, a PE ratio of -9.84, a P/E/G ratio of 0.81 and a beta of 0.88. The firm has a fifty day simple moving average of $102.65 and a two-hundred day simple moving average of $99.07. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company's revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.62 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is -39.83%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup boosted their target price on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a report on Monday, May 5th. Barclays boosted their target price on shares of Crown Castle from $117.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 1st. Finally, JMP Securities reissued a "market outperform" rating and set a $125.00 target price on shares of Crown Castle in a report on Thursday, July 24th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

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.

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