Quent Capital LLC Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Quent Capital LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 43.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,321 shares of the real estate investment trust’s stock after selling 1,025 shares during the quarter. Quent Capital LLC’s holdings in Crown Castle were worth $129,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in CCI. Trust Point Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth $264,000. SteelPeak Wealth LLC increased its stake in shares of Crown Castle by 10.2% in the fourth quarter. SteelPeak Wealth LLC now owns 2,779 shares of the real estate investment trust’s stock worth $320,000 after buying an additional 257 shares during the period. International Assets Investment Management LLC increased its stake in shares of Crown Castle by 8,611.0% in the fourth quarter. International Assets Investment Management LLC now owns 703,236 shares of the real estate investment trust’s stock worth $81,006,000 after buying an additional 695,163 shares during the period. Arkadios Wealth Advisors increased its position in Crown Castle by 10.5% during the 4th quarter. Arkadios Wealth Advisors now owns 9,446 shares of the real estate investment trust’s stock valued at $1,088,000 after purchasing an additional 900 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its holdings in Crown Castle by 69.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 11,737 shares of the real estate investment trust’s stock worth $1,352,000 after purchasing an additional 4,829 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 2.0 %

CCI stock traded up $2.19 during trading on Tuesday, hitting $112.96. 3,113,524 shares of the stock traded hands, compared to its average volume of 2,766,189. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The firm’s 50 day moving average is $101.31 and its two-hundred day moving average is $102.74. The stock has a market cap of $49.08 billion, a price-to-earnings ratio of 35.30 and a beta of 0.83. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.42.

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, beating the consensus estimate of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same period in the prior year, the firm posted $2.05 EPS. Crown Castle’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, sell-side analysts anticipate that Crown Castle Inc. will post 6.63 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.54%. The ex-dividend date was Friday, June 14th. Crown Castle’s payout ratio is presently 195.63%.

Analyst Upgrades and Downgrades

CCI has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Jefferies Financial Group decreased their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, April 18th. Royal Bank of Canada upped their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, TD Cowen upped their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Crown Castle has an average rating of “Hold” and an average target price of $113.20.

Insider Activity

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

Crown Castle 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.