Crossmark Global Holdings Inc. Purchases 4,843 Shares of Crown Castle Inc. (NYSE:CCI)

Crossmark Global Holdings Inc. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 6.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,045 shares of the real estate investment trust's stock after buying an additional 4,843 shares during the period. Crossmark Global Holdings Inc.'s holdings in Crown Castle were worth $7,822,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CCI. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter valued at approximately $25,000. Opal Wealth Advisors LLC purchased a new position in Crown Castle in the 1st quarter valued at approximately $26,000. American National Bank & Trust purchased a new position in Crown Castle in the 1st quarter valued at approximately $29,000. Capital Advisors Ltd. LLC increased its stake 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 valued at $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Vermillion Wealth Management Inc. purchased a new position in Crown Castle in the 4th quarter valued at approximately $38,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 8,000 shares of Crown Castle stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 20,528 shares in the company, valued at $2,183,563.36. The trade was a 28.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 completion of the sale, the vice president owned 6,465 shares of the company's stock, valued at $689,944.80. This trade represents a 35.77% 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 worth $3,362,752 over the last ninety days. Company insiders own 0.10% of the company's stock.

Crown Castle Trading Up 0.7%

NYSE:CCI traded up $0.76 during mid-day trading on Tuesday, hitting $102.61. The company had a trading volume of 2,209,795 shares, compared to its average volume of 2,930,567. The business has a fifty day simple moving average of $101.50 and a 200-day simple moving average of $97.04. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a market capitalization of $44.68 billion, a price-to-earnings ratio of -9.54, a PEG ratio of 0.80 and a beta of 0.88.

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

Crown Castle Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio is currently -39.50%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. KeyCorp raised their price objective on Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. dropped their price target on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. JMP Securities raised their price target on Crown Castle from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 1st. Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, UBS Group raised their price target on Crown Castle from $118.00 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Crown Castle has an average rating of "Moderate Buy" and an average price target of $113.06.

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.