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

TD Private Client Wealth LLC cut its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 46.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC grew its holdings in Crown Castle by 5.5% during the 4th quarter. Proficio Capital Partners LLC now owns 8,237 shares of the real estate investment trust's stock valued at $748,000 after buying an additional 426 shares in the last quarter. Larson Financial Group LLC grew its stake in Crown Castle by 570.2% during the fourth quarter. Larson Financial Group LLC now owns 1,843 shares of the real estate investment trust's stock valued at $167,000 after acquiring an additional 1,568 shares in the last quarter. Independent Advisor Alliance bought a new stake in Crown Castle during the 4th quarter worth approximately $396,000. AGF Management Ltd. lifted its stake in Crown Castle by 448.0% in the 4th quarter. AGF Management Ltd. now owns 26,229 shares of the real estate investment trust's stock worth $2,381,000 after purchasing an additional 21,443 shares in the last quarter. Finally, Moors & Cabot Inc. bought a new position in Crown Castle in the 4th quarter valued at $264,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.5%

CCI stock traded up $0.55 during midday trading on Thursday, hitting $103.96. The company had a trading volume of 2,712,377 shares, compared to its average volume of 2,933,739. The stock has a market cap of $45.27 billion, a price-to-earnings ratio of -9.66, a PEG ratio of 0.79 and a beta of 0.88. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock's 50 day moving average price is $101.43 and its 200 day moving average price is $97.12.

Crown Castle (NYSE:CCI - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). 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 net margin of 78.12% and a negative return on equity of 164.40%. The company's quarterly revenue was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. Analysts predict that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle's payout ratio is -39.50%.

Insiders Place Their Bets

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Daniel K. Schlanger sold 20,000 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief executive officer directly owned 110,571 shares of the company's stock, valued at approximately $11,762,542.98. This represents a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CCI shares. JPMorgan Chase & Co. dropped their price objective on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Wall Street Zen downgraded Crown Castle from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. KeyCorp upped their price objective on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Royal Bank Of Canada lifted their target price 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, Argus raised shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. One equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $113.06.

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.