Arkadios Wealth Advisors Sells 498 Shares of Crown Castle Inc. (NYSE:CCI)

Arkadios Wealth Advisors reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,108 shares of the real estate investment trust’s stock after selling 498 shares during the period. Arkadios Wealth Advisors’ holdings in Crown Castle were worth $1,436,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EntryPoint Capital LLC acquired a new position in Crown Castle during the first quarter worth $27,000. Asset Dedication LLC increased its position in shares of Crown Castle by 159.0% during the 2nd 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 in the last quarter. Beacon Capital Management LLC lifted its holdings in Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares during the last quarter. ORG Partners LLC acquired a new position in Crown Castle in the second quarter valued at about $34,000. Finally, New Millennium Group LLC bought a new stake in Crown Castle during the second quarter worth about $34,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CCI. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Barclays upped their price target on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. TD Cowen lowered their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Finally, Jefferies Financial Group upped their price objective on Crown Castle from $123.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.47.

Crown Castle Trading Down 2.3 %

NYSE:CCI opened at $108.91 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.43 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $87.38 and a 1-year high of $120.92. The firm has a market capitalization of $47.32 billion, a price-to-earnings ratio of 34.03 and a beta of 0.85. The business’s 50-day moving average price is $114.05 and its two-hundred day moving average price is $105.48.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, equities analysts expect that Crown Castle Inc. will post 6.65 earnings per share for the current 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 issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.75%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

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.