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

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

A number of other hedge funds have also added to or reduced their stakes in CCI. Norges Bank bought a new position in Crown Castle in the fourth quarter valued at $561,714,000. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. Wellington Management Group LLP grew its position in shares of Crown Castle by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after acquiring an additional 3,321,249 shares during the period. National Bank of Canada FI grew its position in shares of Crown Castle by 37.3% in the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock valued at $525,849,000 after acquiring an additional 1,573,043 shares during the period. Finally, Northern Trust Corp grew its position in shares of Crown Castle by 24.2% in the 4th quarter. Northern Trust Corp now owns 4,729,215 shares of the real estate investment trust's stock valued at $429,224,000 after acquiring an additional 920,428 shares during the period. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CCI. New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. JMP Securities lifted their price objective on shares of Crown Castle from $115.00 to $125.00 and gave the company a "market outperform" rating in a research report on Thursday, May 1st. Argus raised shares of Crown Castle to a "hold" rating in a research report on Friday, March 21st. Barclays lifted 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. Finally, Wall Street Zen downgraded shares of Crown Castle from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $113.06.

Crown Castle Price Performance

Crown Castle stock traded down $1.07 during midday trading on Friday, hitting $102.91. The company's stock had a trading volume of 800,863 shares, compared to its average volume of 3,219,110. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a 50-day moving average price of $101.38 and a two-hundred day moving average price of $97.22. The company has a market cap of $44.81 billion, a price-to-earnings ratio of -9.56, a PEG ratio of 0.80 and a beta of 0.88.

Crown Castle (NYSE:CCI - Get Free Report) last issued its quarterly earnings data 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). Crown Castle had a negative return on equity of 164.40% and a negative net margin of 78.12%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.72 EPS. Crown Castle's revenue for the quarter was down 4.8% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Friday, June 13th. Crown Castle's payout ratio is presently -39.50%.

Insider Activity

In other news, VP Robert Sean Collins sold 3,600 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total value of $384,192.00. Following the completion of the transaction, the vice president directly owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business'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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is currently owned by corporate insiders.

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.