Global Wealth Management Investment Advisory Inc. Raises Position in Crown Castle Inc. (NYSE:CCI)

Global Wealth Management Investment Advisory Inc. boosted its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 44.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,819 shares of the real estate investment trust's stock after acquiring an additional 15,249 shares during the period. Crown Castle accounts for about 1.0% of Global Wealth Management Investment Advisory Inc.'s holdings, making the stock its 27th biggest position. Global Wealth Management Investment Advisory Inc.'s holdings in Crown Castle were worth $5,193,000 at the end of the most recent reporting period.

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

Crown Castle Stock Performance

NYSE:CCI traded down $0.25 during trading hours on Friday, reaching $102.92. The company's stock had a trading volume of 1,246,284 shares, compared to its average volume of 2,929,989. The company has a market capitalization of $44.82 billion, a P/E ratio of -9.57, a price-to-earnings-growth ratio of 0.80 and a beta of 0.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a 50 day moving average price of $101.48 and a two-hundred day moving average price of $96.89.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company posted $1.72 earnings per share. The business's revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts predict 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. Shareholders of record on Friday, June 13th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio is currently -39.50%.

Insiders Place Their Bets

In other news, EVP Edward B. Adams, Jr. sold 8,000 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president directly owned 20,528 shares of the company's stock, valued at $2,183,563.36. This represents a 28.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Robert Sean Collins sold 3,600 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president directly owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,600 shares of company stock valued at $3,362,752. Company insiders own 0.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. KeyCorp raised their target price on Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 1st. JPMorgan Chase & Co. cut their price objective 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. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price objective for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, Barclays raised their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $112.71.

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.