Crown Castle Inc. (NYSE:CCI) Shares Acquired by Tidal Investments LLC

Tidal Investments LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 33.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,603 shares of the real estate investment trust's stock after acquiring an additional 3,894 shares during the quarter. Tidal Investments LLC's holdings in Crown Castle were worth $1,416,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in shares of Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock worth $103,000 after acquiring an additional 126 shares during the period. IFP Advisors Inc grew its position in Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock valued at $216,000 after buying an additional 133 shares during the period. Howard Capital Management Inc. grew its position in Crown Castle by 1.2% during the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock valued at $1,041,000 after buying an additional 135 shares during the period. Cidel Asset Management Inc. grew its position in Crown Castle by 6.4% during the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust's stock valued at $207,000 after buying an additional 137 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in Crown Castle by 5.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,526 shares of the real estate investment trust's stock valued at $227,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 3,600 shares of Crown Castle 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 now directly owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of Crown Castle 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 now owns 20,528 shares of the company's stock, valued at approximately $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,600 shares of company stock valued at $3,362,752 over the last ninety days. Company insiders own 0.10% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on CCI shares. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $85.00 to $105.00 in a research report on Monday, March 17th. Scotiabank raised their price target on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 22nd. Royal Bank of Canada raised their price target 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. Wall Street Zen lowered shares of Crown Castle from a "hold" rating to a "sell" rating in a research report on Wednesday, May 21st. Finally, KeyCorp lifted their target price on shares of Crown Castle from $120.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $112.71.

Crown Castle Price Performance

Shares of NYSE:CCI traded down $0.98 during midday trading on Wednesday, hitting $99.57. The company's stock had a trading volume of 1,901,219 shares, compared to its average volume of 2,875,030. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The business's 50 day simple moving average is $101.74 and its 200 day simple moving average is $97.30. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a market cap of $43.36 billion, a P/E ratio of 35.31 and a beta of 0.93.

Crown Castle (NYSE:CCI - Get Free Report) last issued its 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). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.04 billion. During the same period last year, the firm earned $1.72 earnings per share. Crown Castle's revenue for the quarter was down 4.8% on a year-over-year basis. On average, 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 will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.27%. The ex-dividend date of this dividend is Friday, June 13th. Crown Castle's dividend payout ratio (DPR) is presently -39.50%.

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.