Anchor Capital Advisors LLC Trims Stock Holdings in Crown Castle Inc. $CCI

Anchor Capital Advisors LLC lessened its position in shares of Crown Castle Inc. (NYSE:CCI) by 3.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 448,397 shares of the real estate investment trust’s stock after selling 16,028 shares during the quarter. Anchor Capital Advisors LLC owned 0.10% of Crown Castle worth $43,266,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Winnow Wealth LLC purchased a new stake in shares of Crown Castle in the 2nd quarter valued at $26,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC lifted its position in Crown Castle by 74.5% during the second quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 120 shares during the period. Creative Financial Designs Inc. ADV boosted its holdings in Crown Castle by 47.8% in the second quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 98 shares during the last quarter. Finally, Cullen Frost Bankers Inc. boosted its holdings in Crown Castle by 511.3% in the second quarter. Cullen Frost Bankers Inc. now owns 324 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 271 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Down 4.5%

Shares of CCI opened at $86.81 on Wednesday. Crown Castle Inc. has a 52-week low of $83.21 and a 52-week high of $115.76. The stock has a fifty day simple moving average of $88.91 and a two-hundred day simple moving average of $95.48. The company has a market capitalization of $37.81 billion, a PE ratio of -8.17, a price-to-earnings-growth ratio of 0.58 and a beta of 0.96.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 22nd. The real estate investment trust reported $1.12 earnings per share for the quarter, beating the consensus estimate of $1.04 by $0.08. Crown Castle had a negative net margin of 95.37% and a negative return on equity of 619.62%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $1.84 EPS. The business’s revenue for the quarter was down 4.3% on a year-over-year basis. As a group, equities analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were issued a dividend of $1.0625 per share. The ex-dividend date was Monday, December 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio is currently -39.98%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CCI shares. Barclays reissued an “equal weight” rating and issued a $101.00 price objective (down previously from $104.00) on shares of Crown Castle in a report on Monday, December 1st. Royal Bank Of Canada reduced their price target on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Jefferies Financial Group decreased their price target on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Citigroup dropped their price objective on shares of Crown Castle from $124.00 to $110.00 and set a “buy” rating on the stock in a research note on Thursday, October 16th. Finally, The Goldman Sachs Group cut their target price on shares of Crown Castle from $117.00 to $105.00 and set a “neutral” rating for the company in a report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $107.11.

Insider Buying and Selling at Crown Castle

In related news, EVP Daniel K. Schlanger sold 30,000 shares of the firm’s stock in a transaction dated Friday, October 24th. The stock was sold at an average price of $98.08, for a total transaction of $2,942,400.00. Following the completion of the sale, the executive vice president directly owned 65,571 shares of the company’s stock, valued at approximately $6,431,203.68. This trade represents a 31.39% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.