Private Advisor Group LLC Trims Position in Crown Castle Inc. (NYSE:CCI)

Private Advisor Group LLC decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 10.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 20,360 shares of the real estate investment trust's stock after selling 2,251 shares during the period. Private Advisor Group LLC's holdings in Crown Castle were worth $2,122,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Iron Horse Wealth Management LLC bought a new stake in Crown Castle in the 1st quarter valued at $26,000. Opal Wealth Advisors LLC bought a new stake in shares of Crown Castle during the 1st quarter valued at $26,000. American National Bank & Trust bought a new stake in shares of Crown Castle during the 1st quarter valued at $29,000. Capital Advisors Ltd. LLC lifted 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 acquiring an additional 133 shares during the period. Finally, Versant Capital Management Inc lifted its position in shares of Crown Castle by 95.2% during the 1st quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust's stock valued at $43,000 after acquiring an additional 199 shares during the period. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

Crown Castle stock traded down $2.31 during mid-day trading on Friday, reaching $111.60. 3,419,991 shares of the company were exchanged, compared to its average volume of 2,744,282. The business has a fifty day moving average of $102.19 and a 200 day moving average of $98.48. The firm has a market cap of $48.60 billion, a P/E ratio of -10.46, a PEG ratio of 0.88 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.

Crown Castle (NYSE:CCI - Get Free Report) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.02. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a negative return on equity of 619.62% and a negative net margin of 85.54%. The firm's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.62 EPS. Sell-side analysts predict that Crown Castle Inc. will post 6.67 EPS for the current 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 3.81%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio is presently -39.50%.

Insider Activity at Crown Castle

In other Crown Castle news, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the transaction, the chief executive officer directly owned 110,571 shares of the company's stock, valued at $11,762,542.98. This trade represents a 15.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert Sean Collins sold 3,600 shares of the firm'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 transaction of $384,192.00. Following the completion of the transaction, the vice president directly owned 6,465 shares in the company, 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. In the last three months, insiders have sold 31,600 shares of company stock valued at $3,362,752. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. KeyCorp upped their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a research report on Thursday. Royal Bank Of Canada upped their price objective on Crown Castle from $107.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $105.00 to $125.00 in a research report on Thursday. New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Finally, UBS Group upped their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a "buy" rating in a research report on Friday. One analyst has rated the stock with a sell rating, nine have given a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $115.94.

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.