180 Wealth Advisors LLC Reduces Stake in Crown Castle Inc. (NYSE:CCI)

180 Wealth Advisors LLC reduced its position in Crown Castle Inc. (NYSE:CCIGet Rating) by 15.4% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,221 shares of the real estate investment trust’s stock after selling 223 shares during the period. 180 Wealth Advisors LLC’s holdings in Crown Castle were worth $210,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Advisor Resource Council purchased a new position in Crown Castle during the fourth quarter worth $257,000. O Shaughnessy Asset Management LLC increased its position in Crown Castle by 10.5% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 7,886 shares of the real estate investment trust’s stock worth $1,646,000 after buying an additional 752 shares in the last quarter. Level Four Advisory Services LLC purchased a new position in Crown Castle during the fourth quarter worth $400,000. Gamco Investors INC. ET AL purchased a new position in Crown Castle during the fourth quarter worth $240,000. Finally, Invesco Ltd. increased its position in Crown Castle by 0.9% during the fourth quarter. Invesco Ltd. now owns 3,085,322 shares of the real estate investment trust’s stock worth $644,030,000 after buying an additional 26,419 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.1 %

Shares of CCI opened at $163.42 on Tuesday. The stock’s 50-day moving average is $174.61 and its two-hundred day moving average is $178.11. The stock has a market cap of $70.77 billion, a PE ratio of 45.90 and a beta of 0.60. Crown Castle Inc. has a 12 month low of $153.70 and a 12 month high of $209.87. The company has a debt-to-equity ratio of 2.70, a current ratio of 0.69 and a quick ratio of 0.69.

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

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

Several research firms have recently issued reports on CCI. Citigroup decreased their price objective on Crown Castle from $204.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, July 11th. Jefferies Financial Group upgraded Crown Castle from a “hold” rating to a “buy” rating and raised their price objective for the stock from $191.00 to $200.00 in a report on Thursday, June 30th. Wells Fargo & Company decreased their price objective on Crown Castle from $180.00 to $175.00 and set an “underweight” rating on the stock in a report on Tuesday, July 19th. Credit Suisse Group decreased their price objective on Crown Castle to $213.00 in a report on Friday, July 22nd. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Crown Castle from $183.00 to $185.00 in a report on Friday, July 22nd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average price target of $195.20.

Insider Transactions at Crown Castle

In other news, Director Kevin A. Stephens acquired 699 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was purchased at an average cost of $173.60 per share, with a total value of $121,346.40. Following the completion of the acquisition, the director now directly owns 10,703 shares in the company, valued at $1,858,040.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.47% of the company’s stock.

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.

See Also

Want to see what other hedge funds are holding CCI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Crown Castle Inc. (NYSE:CCIGet Rating).

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

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