Independent Solutions Wealth Management LLC Sells 395 Shares of Crown Castle Inc. (NYSE:CCI)

Independent Solutions Wealth Management LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,199 shares of the real estate investment trust’s stock after selling 395 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Crown Castle were worth $854,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle during the third quarter worth approximately $25,000. Rosenberg Matthew Hamilton lifted its stake in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Asset Dedication LLC boosted its position in Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. New Millennium Group LLC bought a new position in shares of Crown Castle during the second quarter valued at about $34,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle in the third quarter worth about $47,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the topic of a number of analyst reports. UBS Group lifted their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. The Goldman Sachs Group raised their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, TD Cowen reduced their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $117.00.

Crown Castle Stock Down 1.1 %

CCI traded down $0.98 during trading on Thursday, hitting $91.92. 2,422,134 shares of the company’s stock traded hands, compared to its average volume of 2,673,263. Crown Castle Inc. has a 12-month low of $91.51 and a 12-month high of $120.92. The company’s 50 day simple moving average is $105.55 and its two-hundred day simple moving average is $107.03. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $39.95 billion, a price-to-earnings ratio of 32.60 and a beta of 0.86.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing the consensus estimate of $1.73 by ($1.03). The business had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. Crown Castle’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.77 earnings per share. Analysts predict that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.81%. The ex-dividend date is Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.