TD Private Client Wealth LLC Sells 9,067 Shares of Crown Castle Inc. (NYSE:CCI)

TD Private Client Wealth LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,350 shares of the real estate investment trust's stock after selling 9,067 shares during the quarter. TD Private Client Wealth LLC's holdings in Crown Castle were worth $1,079,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter valued at $26,000. Twin Tree Management LP purchased a new stake in shares of Crown Castle during the 4th quarter valued at $25,000. American National Bank & Trust purchased a new stake in shares of Crown Castle during the 1st quarter valued at $29,000. 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 in the last quarter. Finally, Versant Capital Management Inc raised 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 buying an additional 199 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Insider Activity

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president owned 20,528 shares of the company's stock, valued at $2,183,563.36. The trade was 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 link. Also, VP Robert Sean Collins sold 3,600 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president directly owned 6,465 shares in the company, valued at $689,944.80. The trade was a 35.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,600 shares of company stock valued at $3,362,752. Corporate insiders own 0.10% of the company's stock.

Crown Castle Trading Up 0.8%

Shares of CCI opened at $103.43 on Thursday. The firm's 50-day moving average price is $101.43 and its 200-day moving average price is $97.12. The firm has a market capitalization of $45.04 billion, a price-to-earnings ratio of -9.61, a PEG ratio of 0.79 and a beta of 0.88. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

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 for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). 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 78.12% and a negative return on equity of 164.40%. The company's revenue for the quarter was down 4.8% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. On average, research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's payout ratio is -39.50%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CCI shares. Barclays raised their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. New Street Research upgraded shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. BMO Capital Markets reiterated a "market perform" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Finally, Royal Bank Of Canada lifted their target price on shares of Crown Castle from $107.00 to $112.00 and gave the stock a "sector perform" rating in a research report on Friday, May 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $113.06.

Crown Castle 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.

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