Naviter Wealth LLC Sells 4,815 Shares of Crown Castle Inc. (NYSE:CCI)

Naviter Wealth LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,400 shares of the real estate investment trust’s stock after selling 4,815 shares during the quarter. Naviter Wealth LLC’s holdings in Crown Castle were worth $4,081,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. EntryPoint Capital LLC bought a new position in shares of Crown Castle during the 1st quarter valued at about $27,000. Asset Dedication LLC lifted its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 167 shares during the last quarter. Beacon Capital Management LLC boosted its position in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. ORG Partners LLC bought a new position in shares of Crown Castle during the second quarter valued at about $34,000. Finally, New Millennium Group LLC purchased a new position in shares of Crown Castle in the second quarter worth about $34,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CCI has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Barclays lifted their target price on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. TD Cowen dropped their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Finally, Bank of America increased their target price on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Eleven investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $115.57.

Crown Castle Stock Down 3.4 %

Shares of CCI stock traded down $3.94 during mid-day trading on Thursday, hitting $111.74. The company’s stock had a trading volume of 131,330 shares, compared to its average volume of 2,620,042. The stock has a market cap of $48.56 billion, a price-to-earnings ratio of 40.93 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The business has a 50-day moving average price of $113.98 and a 200 day moving average price of $105.00.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.65 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same quarter in the prior year, the company posted $1.77 EPS. Crown Castle’s revenue was down .9% on a year-over-year basis. Research analysts predict that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.60%. Crown Castle’s dividend payout ratio (DPR) is currently 229.30%.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction that occurred 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 owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

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.