Crestwood Advisors Group LLC Decreases Stake in Crown Castle Inc. (NYSE:CCI)

Crestwood Advisors Group LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 32.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 32,506 shares of the real estate investment trust's stock after selling 15,432 shares during the period. Crestwood Advisors Group LLC's holdings in Crown Castle were worth $3,388,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. CHICAGO TRUST Co NA boosted its holdings in Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust's stock valued at $368,000 after acquiring an additional 104 shares during the period. Beacon Capital Management LLC lifted its holdings in Crown Castle by 36.6% in the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust's stock worth $47,000 after buying an additional 120 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in Crown Castle by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust's stock worth $3,894,000 after buying an additional 120 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in Crown Castle by 62.1% in the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock worth $36,000 after buying an additional 133 shares during the period. Finally, Cidel Asset Management Inc. lifted its holdings in Crown Castle by 6.1% in the 1st quarter. Cidel Asset Management Inc. now owns 2,424 shares of the real estate investment trust's stock worth $253,000 after buying an additional 139 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Buying and Selling

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

Crown Castle Price Performance

Crown Castle stock traded up $4.06 during mid-day trading on Thursday, reaching $113.79. The stock had a trading volume of 4,556,909 shares, compared to its average volume of 3,225,372. The company has a market capitalization of $49.55 billion, a price-to-earnings ratio of -10.59, a PEG ratio of 0.85 and a beta of 0.88. The company has a 50-day moving average price of $101.74 and a two-hundred day moving average price of $98.14. Crown Castle Inc. has a one year low of $84.20 and a one year 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 company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. Crown Castle's revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.62 EPS. On average, equities research analysts anticipate 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. Investors of record on Friday, June 13th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Friday, June 13th. Crown Castle's payout ratio is -39.50%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Crown Castle from $108.00 to $124.00 and gave the company a "buy" rating in a research report on Monday, May 5th. New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Royal Bank Of Canada boosted their price objective on shares of Crown Castle from $107.00 to $112.00 and gave the company a "sector perform" rating in a research report on Friday, May 2nd. Raymond James Financial reissued a "strong-buy" rating and set a $124.00 price objective (up from $122.00) on shares of Crown Castle in a research report on Thursday. Finally, Barclays boosted their price objective on shares of Crown Castle from $113.00 to $117.00 and gave the company an "overweight" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $115.47.

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.