Equitable Trust Co. Trims Position in Crown Castle Inc. (NYSE:CCI)

Key Points

• Equitable Trust Co. has reduced its stake in Crown Castle Inc. by 5.7%, owning approximately $24.62 million worth of stock, which represents 1.4% of its overall holdings.
• CEO Daniel K. Schlanger recently sold 20,000 shares of Crown Castle for about $2.13 million, decreasing his ownership by 15.32%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for Crown Castle, with a target price averaging around $115.47.

Equitable Trust Co. cut its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 5.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 236,224 shares of the real estate investment trust's stock after selling 14,155 shares during the period. Crown Castle makes up about 1.4% of Equitable Trust Co.'s portfolio, making the stock its 14th largest holding. Equitable Trust Co. owned 0.05% of Crown Castle worth $24,622,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. CHICAGO TRUST Co NA boosted 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 purchasing an additional 104 shares during the last quarter. Abel Hall LLC raised its position in shares of Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust's stock valued at $666,000 after buying an additional 115 shares during the period. Beacon Capital Management LLC raised its position in shares of 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 buying an additional 120 shares during the period. Oregon Public Employees Retirement Fund raised its position 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. Finally, Capital Advisors Ltd. LLC raised its position 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. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 8,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were 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 owned 20,528 shares in the company, valued at $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the transaction, the chief executive officer owned 110,571 shares of the company's stock, valued at $11,762,542.98. This represents a 15.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,600 shares of company stock worth $3,362,752 over the last 90 days. Corporate insiders own 0.10% of the company's stock.

Crown Castle Stock Performance

Shares of Crown Castle stock traded up $0.71 during trading hours on Tuesday, reaching $109.51. 1,635,652 shares of the company were exchanged, compared to its average volume of 3,233,236. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock's fifty day moving average is $102.31 and its 200 day moving average is $98.80. The firm has a market cap of $47.69 billion, a PE ratio of -10.26, a PEG ratio of 0.85 and a beta of 0.88.

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

Crown Castle Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $1.0625 dividend. The ex-dividend date was Friday, June 13th. This represents a $4.25 annualized dividend and a yield of 3.88%. Crown Castle's dividend payout ratio is presently -39.83%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCI. 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. BMO Capital Markets lifted their price target on shares of Crown Castle from $108.00 to $115.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Bank of America began coverage on shares of Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 price target on the stock. Royal Bank Of Canada lifted their price target 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. Finally, Wall Street Zen raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday. Ten analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $116.18.

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.