Atria Wealth Solutions Inc. Grows Position in Crown Castle Inc. (NYSE:CCI)

Atria Wealth Solutions Inc. increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,519 shares of the real estate investment trust’s stock after purchasing an additional 3,018 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Crown Castle were worth $3,275,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Crown Castle during the fourth quarter valued at about $581,503,000. M&G Plc purchased a new stake in Crown Castle in the first quarter valued at approximately $221,573,000. Mizuho Markets Americas LLC acquired a new position in Crown Castle during the fourth quarter worth $201,582,000. Balyasny Asset Management L.P. lifted its stake in Crown Castle by 18,200.7% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock worth $190,231,000 after purchasing an additional 1,642,432 shares in the last quarter. Finally, Capital International Investors boosted its position in shares of Crown Castle by 68,262.1% during the first quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after buying an additional 1,238,274 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CCI. Barclays boosted their price objective on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Deutsche Bank Aktiengesellschaft increased their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective for the company. Bank of America upped their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, BMO Capital Markets raised their price target on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $113.53.

Crown Castle Stock Down 0.4 %

NYSE:CCI traded down $0.41 during trading hours on Wednesday, hitting $109.57. The company’s stock had a trading volume of 1,452,187 shares, compared to its average volume of 2,702,708. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a market capitalization of $47.62 billion, a P/E ratio of 34.24 and a beta of 0.83. The stock has a fifty day moving average of $103.63 and a 200-day moving average of $102.94.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.05 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.71%. Crown Castle’s payout ratio is currently 195.63%.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 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.