Choreo LLC Has $648,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Key Points

• Choreo LLC reduced its stake in Crown Castle Inc. by 45.1%, now owning 6,214 shares worth approximately $648,000 after selling 5,108 shares in the first quarter.
• Analysts have given Crown Castle a mixed rating with 10 hold, 8 buy, and 3 strong buy ratings, while JPMorgan Chase raised their price target to $120.00.
• Crown Castle recently declared a quarterly dividend of $1.0625 per share, resulting in an annualized yield of 3.81%, despite having a negative net margin.

Choreo LLC decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 45.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 6,214 shares of the real estate investment trust's stock after selling 5,108 shares during the period. Choreo LLC's holdings in Crown Castle were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle during the first quarter worth approximately $26,000. Iron Horse Wealth Management LLC acquired a new position in Crown Castle during the 1st quarter valued at $26,000. American National Bank & Trust acquired a new position in Crown Castle during the 1st quarter valued at $29,000. Capital Advisors Ltd. LLC raised its stake in Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 133 shares during the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Wall Street Analyst Weigh In

CCI has been the topic of several analyst reports. Barclays boosted their price target on shares of Crown Castle from $117.00 to $121.00 and gave the company an "overweight" rating in a report on Tuesday. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday. Scotiabank boosted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a "sector perform" rating in a research note on Friday, July 25th. Bank of America began coverage on shares of Crown Castle in a research note on Monday, May 19th. They issued a "buy" rating and a $115.00 target price on the stock. Finally, 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 research note on Monday, May 5th. Ten equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Stock Down 2.2%

Shares of NYSE:CCI traded down $2.45 during mid-day trading on Wednesday, reaching $106.88. 4,168,672 shares of the stock were exchanged, compared to its average volume of 2,776,814. The company has a market cap of $46.54 billion, a P/E ratio of -10.02, a P/E/G ratio of 0.83 and a beta of 0.88. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The stock's 50 day simple moving average is $102.54 and its 200-day simple moving average is $98.93.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 EPS for the quarter, beating the consensus estimate of $1.00 by $0.02. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The firm had revenue of $1.06 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same period in the prior year, the firm posted $1.62 earnings per share. The business's quarterly revenue was down 4.2% compared to the same quarter last year. Analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a dividend of $1.0625 per share. The ex-dividend date was Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 3.98%. Crown Castle's dividend payout ratio (DPR) is presently -39.83%.

Insider Activity at Crown Castle

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the sale, the vice president owned 6,465 shares in the company, valued at $689,944.80. This represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the sale, the chief executive officer owned 110,571 shares in the company, valued at $11,762,542.98. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,600 shares of company stock valued at $3,362,752. Insiders own 0.10% of the company's stock.

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.