Crown Castle Inc. (NYSE:CCI) Shares Sold by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 6.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,482 shares of the real estate investment trust’s stock after selling 224 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Crown Castle were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Western Wealth Management LLC acquired a new position in Crown Castle in the fourth quarter valued at $201,000. Gray Wealth Management Inc. grew its position in Crown Castle by 3.0% during the fourth quarter. Gray Wealth Management Inc. now owns 4,379 shares of the real estate investment trust’s stock valued at $504,000 after acquiring an additional 127 shares during the period. CapWealth Advisors LLC grew its position in Crown Castle by 2.1% during the fourth quarter. CapWealth Advisors LLC now owns 37,210 shares of the real estate investment trust’s stock valued at $4,286,000 after acquiring an additional 764 shares during the period. Waterfront Wealth Inc. grew its position in Crown Castle by 1.9% during the fourth quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 101 shares during the period. Finally, Court Place Advisors LLC purchased a new stake in Crown Castle during the fourth quarter valued at about $201,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. BMO Capital Markets lowered their price target on Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday. Jefferies Financial Group lowered their price target on Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday. Scotiabank lowered their price target on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday. Bank of America lowered their price target on Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Argus downgraded Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $117.73.

Crown Castle Trading Up 0.9 %

Shares of CCI opened at $95.20 on Friday. The company has a market capitalization of $41.37 billion, a P/E ratio of 29.75, a P/E/G ratio of 2.54 and a beta of 0.73. Crown Castle Inc. has a one year low of $84.72 and a one year high of $131.43. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.40 and a current ratio of 0.42. The stock has a 50-day moving average price of $104.88 and a 200 day moving average price of $105.22.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.63 billion. During the same quarter in the previous year, the company earned $1.91 EPS. The company’s quarterly revenue was down 7.4% compared to the same quarter last year. Sell-side analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.58%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is currently 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.