2,512 Shares in Crown Castle Inc. (NYSE:CCI) Bought by Legacy Advisors LLC

Legacy Advisors LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,512 shares of the real estate investment trust's stock, valued at approximately $262,000.

Other large investors have also recently made changes to their positions in the company. Twin Tree Management LP purchased a new stake in shares of Crown Castle during the fourth quarter worth about $25,000. Opal Wealth Advisors LLC acquired a new position in shares of Crown Castle during the first quarter valued at approximately $26,000. American National Bank & Trust acquired a new stake in shares of Crown Castle in the first quarter worth approximately $29,000. Capital Advisors Ltd. LLC increased its position in shares of Crown Castle by 62.1% during the first quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Vermillion Wealth Management Inc. acquired a new position in Crown Castle in the 4th quarter valued at $38,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.3%

Crown Castle stock traded up $0.30 during mid-day trading on Friday, reaching $100.65. 349,063 shares of the company's stock were exchanged, compared to its average volume of 2,935,919. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a market cap of $43.83 billion, a P/E ratio of -9.36, a P/E/G ratio of 0.79 and a beta of 0.88. The company has a fifty day moving average of $101.43 and a 200-day moving average of $96.69.

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 for the quarter, missing the consensus estimate of $1.72 by ($0.62). The company had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. Crown Castle's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.72 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.22%. Crown Castle's dividend payout ratio is currently -39.50%.

Insider Buying and Selling

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the firm'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 sale, the chief executive officer now directly owns 110,571 shares in the company, valued at $11,762,542.98. This trade represents a 15.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of Crown Castle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.37, for a total value of $850,960.00. Following the sale, the executive vice president now directly owns 20,528 shares of the company's stock, valued at $2,183,563.36. This trade represents a 28.04% decrease in their ownership of the stock. 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. 0.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wolfe Research raised shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research note on Monday, March 17th. Scotiabank upped their target price on Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, April 22nd. JPMorgan Chase & Co. lowered their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. JMP Securities lifted their target price on shares of Crown Castle from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research note on Thursday, May 1st. Finally, Barclays boosted their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Crown Castle currently 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.