Front Row Advisors LLC Trims Stock Position in Crown Castle Inc. (NYSE:CCI)

Front Row Advisors LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 12.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 12,397 shares of the real estate investment trust’s stock after selling 1,778 shares during the quarter. Front Row Advisors LLC’s holdings in Crown Castle were worth $1,211,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prosperity Consulting Group LLC grew its holdings in Crown Castle by 4.4% during the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock worth $221,000 after acquiring an additional 95 shares during the period. Granite Investment Partners LLC increased its holdings in shares of Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after purchasing an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of Crown Castle by 12.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares during the period. Gilbert & Cook Inc. increased its holdings in Crown Castle by 3.7% in the fourth quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after buying an additional 110 shares in the last quarter. Finally, HM Payson & Co. raised its position in shares of Crown Castle by 5.3% in the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock worth $239,000 after acquiring an additional 114 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.6 %

Shares of Crown Castle stock opened at $116.61 on Friday. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The stock’s 50 day simple moving average is $112.78 and its 200-day simple moving average is $104.21. The stock has a market cap of $50.68 billion, a P/E ratio of 36.44 and a beta of 0.85. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the business posted $2.05 earnings per share. The firm’s revenue was down 12.9% compared to the same quarter last year. Analysts predict that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.37%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is presently 195.63%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CCI shares. The Goldman Sachs Group lifted their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. BMO Capital Markets increased their target price on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Bank of America upped their price objective on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Twelve analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $115.40.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

About Crown Castle

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.