Stevens Capital Management LP Has $523,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

Key Points

• Stevens Capital Management LP reduced its stake in Crown Castle Inc. by 53.8%, ending up with 5,013 shares valued at approximately $523,000.
• Insider trades revealed that CEO Daniel K. Schlanger and VP Robert Sean Collins each sold significant shares, reducing their positions by 15.32% and 35.77% respectively.
• The company declared a quarterly dividend of $1.0625 per share, marking an annualized payout of $4.25 with a yield of 3.81%.

Stevens Capital Management LP cut its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 53.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,013 shares of the real estate investment trust's stock after selling 5,826 shares during the period. Stevens Capital Management LP's holdings in Crown Castle were worth $523,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Iron Horse Wealth Management LLC acquired a new stake in shares of Crown Castle in the first quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Crown Castle in the 1st quarter valued at approximately $26,000. American National Bank & Trust bought a new stake in Crown Castle during the 1st quarter worth approximately $29,000. Capital Advisors Ltd. LLC grew its stake 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 worth $36,000 after acquiring an additional 133 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Crown Castle by 95.2% in the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust's stock valued at $43,000 after buying an additional 199 shares in the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company upgraded Crown Castle from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. JMP Securities restated a "market outperform" rating and issued a $125.00 price objective on shares of Crown Castle in a research note on Thursday, July 24th. KeyCorp increased their price objective on Crown Castle from $122.00 to $125.00 and gave the stock an "overweight" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Finally, New Street Research upgraded Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.18.

Crown Castle Stock Down 0.8%

Shares of NYSE:CCI traded down $0.89 during midday trading on Wednesday, hitting $108.44. 738,722 shares of the stock traded hands, compared to its average volume of 3,228,960. The stock has a market capitalization of $47.22 billion, a PE ratio of -10.16, a P/E/G ratio of 0.82 and a beta of 0.88. The business's 50 day moving average is $102.44 and its two-hundred day moving average is $98.88. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.00 by $0.02. The company had revenue of $1.06 billion for 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 firm's revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The business also recently announced 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 3.92%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's dividend payout ratio is presently -39.83%.

Insider Activity

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

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.