Atria Wealth Solutions Inc. Sells 4,421 Shares of Crown Castle Inc. (NYSE:CCI)

Key Points

• Atria Wealth Solutions Inc. reduced its holdings in Crown Castle Inc. by 20.6%, selling 4,421 shares during the first quarter, leaving them with 17,026 shares valued at $1,775,000.
• Several other institutional investors, including CHICAGO TRUST Co NA and Harbour Investments Inc., increased their positions in Crown Castle shares, reflecting strong institutional interest in the company.
• Crown Castle announced a quarterly dividend of $1.0625, with a yield of 4.1%, indicating a commitment to returning value to shareholders despite a challenging revenue environment.

Atria Wealth Solutions Inc. reduced its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,026 shares of the real estate investment trust's stock after selling 4,421 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Crown Castle were worth $1,775,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in CCI. American Assets Investment Management LLC bought a new position in shares of Crown Castle in the first quarter worth $10,395,000. Probity Advisors Inc. boosted its position in shares of Crown Castle by 26.9% in the 1st quarter. Probity Advisors Inc. now owns 5,782 shares of the real estate investment trust's stock valued at $603,000 after purchasing an additional 1,224 shares during the period. Raiffeisen Bank International AG boosted its position in shares of Crown Castle by 309.3% in the 1st quarter. Raiffeisen Bank International AG now owns 7,768 shares of the real estate investment trust's stock valued at $805,000 after purchasing an additional 5,870 shares during the period. Argent Trust Co lifted its stake in Crown Castle by 8.4% in the 1st quarter. Argent Trust Co now owns 9,087 shares of the real estate investment trust's stock worth $947,000 after acquiring an additional 708 shares in the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. purchased a new stake in Crown Castle in the 1st quarter worth about $1,538,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CCI shares. Wells Fargo & Company raised Crown Castle from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, July 24th. Raymond James Financial reaffirmed a "strong-buy" rating and set a $124.00 price target (up from $122.00) on shares of Crown Castle in a research note on Thursday, July 24th. JMP Securities reaffirmed a "market outperform" rating and set a $125.00 price target on shares of Crown Castle in a research note on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $120.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Finally, Citigroup raised their price target on Crown Castle from $108.00 to $124.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Ten research analysts have rated the stock with a hold rating, eight have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $116.24.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $1.70 during mid-day trading on Thursday, reaching $100.12. 1,025,163 shares of the company traded hands, compared to its average volume of 3,239,270. The stock has a market cap of $43.60 billion, a PE ratio of -9.38, a price-to-earnings-growth ratio of 0.77 and a beta of 0.89. The company's fifty day moving average is $103.49 and its two-hundred day moving average is $100.04. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

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

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 4.2%. Crown Castle's payout ratio is -39.83%.

Crown Castle Company 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.