Crown Castle Inc. (NYSE:CCI) Shares Sold by Leo Brokerage LLC

Leo Brokerage LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 89.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,532 shares of the real estate investment trust’s stock after selling 13,158 shares during the quarter. Leo Brokerage LLC’s holdings in Crown Castle were worth $258,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. North Star Investment Management Corp. purchased a new stake in shares of Crown Castle in the 1st quarter worth about $25,000. IAG Wealth Partners LLC boosted its position in shares of Crown Castle by 277.8% in the 4th quarter. IAG Wealth Partners LLC now owns 136 shares of the real estate investment trust’s stock worth $28,000 after buying an additional 100 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the 1st quarter worth about $28,000. Blume Capital Management Inc. purchased a new stake in shares of Crown Castle in the 1st quarter worth about $29,000. Finally, HWG Holdings LP purchased a new stake in shares of Crown Castle in the 4th quarter worth about $34,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.0 %

Shares of NYSE CCI opened at $163.22 on Monday. The firm has a market capitalization of $70.68 billion, a PE ratio of 45.85 and a beta of 0.60. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 2.70. Crown Castle Inc. has a one year low of $153.70 and a one year high of $209.87. The business has a 50-day moving average price of $174.61 and a two-hundred day moving average price of $178.10.

Crown Castle (NYSE:CCIGet Rating) last announced its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.71 by ($0.74). The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.71 billion. Crown Castle had a net margin of 22.91% and a return on equity of 18.93%. The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 earnings per share. As a group, analysts predict that Crown Castle Inc. will post 7.03 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be paid a $1.47 dividend. This represents a $5.88 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend is Wednesday, September 14th. Crown Castle’s payout ratio is 165.17%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCI. Credit Suisse Group reduced their target price on shares of Crown Castle to $213.00 in a report on Friday, July 22nd. Cowen reduced their target price on shares of Crown Castle to $195.00 in a report on Friday, July 22nd. Barclays reduced their target price on shares of Crown Castle from $214.00 to $212.00 and set an “overweight” rating on the stock in a report on Friday, August 26th. Morgan Stanley reduced their target price on shares of Crown Castle from $190.00 to $188.00 and set an “overweight” rating on the stock in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Crown Castle from $183.00 to $185.00 in a research note on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $195.20.

Insider Activity at Crown Castle

In related news, Director Kevin A. Stephens acquired 699 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The shares were acquired at an average cost of $173.60 per share, with a total value of $121,346.40. Following the purchase, the director now owns 10,703 shares of the company’s stock, valued at $1,858,040.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.47% of the stock is owned by company insiders.

Crown Castle Company Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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