Leo Wealth LLC Buys 2,529 Shares of Crown Castle Inc. (NYSE:CCI)

Leo Wealth LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,150 shares of the real estate investment trust's stock after buying an additional 2,529 shares during the period. Leo Wealth LLC's holdings in Crown Castle were worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Iron Horse Wealth Management LLC bought a new position in Crown Castle during the 1st quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Crown Castle in the first quarter worth $26,000. Twin Tree Management LP bought a new position in shares of Crown Castle during the fourth quarter worth $25,000. American National Bank & Trust acquired a new position in shares of Crown Castle in the 1st quarter valued at $29,000. Finally, Capital Advisors Ltd. LLC grew its holdings in shares of 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 buying an additional 133 shares during the period. Institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

Crown Castle stock traded up $0.45 during mid-day trading on Monday, hitting $103.21. 2,649,777 shares of the company's stock traded hands, compared to its average volume of 3,222,684. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a market cap of $44.94 billion, a price-to-earnings ratio of -9.59, a P/E/G ratio of 0.79 and a beta of 0.88. The firm has a 50 day simple moving average of $101.30 and a two-hundred day simple moving average of $97.38.

Crown Castle (NYSE:CCI - Get Free Report) last announced its 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 net margin of 78.12% and a negative return on equity of 164.40%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm posted $1.72 EPS. The company's revenue was down 4.8% compared to the same quarter last year. On average, research analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share 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 paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date was Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is presently -39.50%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. KeyCorp lifted their price target on shares of Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a research note on Thursday, May 1st. Scotiabank upped their target price on shares of Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 22nd. Barclays raised their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Wolfe Research upgraded shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. Finally, Bank of America initiated coverage on Crown Castle in a report on Monday, May 19th. They set a "buy" rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $113.06.

Insider Buying and Selling at Crown Castle

In other news, CEO Daniel K. Schlanger sold 20,000 shares of Crown Castle 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 transaction, the chief executive officer owned 110,571 shares in the company, valued at approximately $11,762,542.98. This trade represents a 15.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction 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 transaction, the executive vice president directly owned 20,528 shares of the company's stock, valued at $2,183,563.36. This trade represents a 28.04% 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 valued at $3,362,752 in the last ninety days. 0.10% of the stock is currently owned by company insiders.

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.