Crown Castle Inc. (NYSE:CCI) Shares Sold by WBH Advisory Inc.

WBH Advisory Inc. lowered its position in Crown Castle Inc. (NYSE:CCI) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,349 shares of the real estate investment trust’s stock after selling 435 shares during the quarter. WBH Advisory Inc.’s holdings in Crown Castle were worth $425,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $25,000. Rational Advisors LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $27,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. acquired a new position in shares of Crown Castle in the 4th quarter valued at $30,000. Finally, Gables Capital Management Inc. increased its holdings in shares of Crown Castle by 164.0% in the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. BMO Capital Markets boosted their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research note on Thursday, July 18th. Raymond James reissued an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Finally, Jefferies Financial Group lowered their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, April 18th. Twelve equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $113.20.

Crown Castle Trading Down 0.5 %

Shares of CCI stock traded down $0.57 during trading hours on Friday, hitting $110.33. 268,785 shares of the company were exchanged, compared to its average volume of 2,742,160. The firm has a fifty day moving average of $102.11 and a 200 day moving average of $102.89. The firm has a market cap of $47.95 billion, a PE ratio of 34.66 and a beta of 0.83. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company’s revenue was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.05 EPS. Analysts expect that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.67%. The ex-dividend date is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Insider Activity

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

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.