B. Riley Wealth Advisors Inc. Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

B. Riley Wealth Advisors Inc. reduced its position in Crown Castle Inc. (NYSE:CCI) by 23.1% in the 4th quarter, Holdings Channel reports. The fund owned 29,975 shares of the real estate investment trust’s stock after selling 8,990 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Crown Castle were worth $3,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new stake in shares of Crown Castle during the 4th quarter valued at $25,000. Operose Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at $30,000. Gables Capital Management Inc. lifted its holdings in shares of Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in shares of Crown Castle during the 4th quarter valued at $30,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Down 2.8 %

Shares of Crown Castle stock traded down $2.74 during trading on Monday, reaching $96.36. The company had a trading volume of 2,594,986 shares, compared to its average volume of 2,809,875. The company has a market cap of $41.87 billion, a price-to-earnings ratio of 30.11, a price-to-earnings-growth ratio of 2.62 and a beta of 0.82. The firm’s fifty day moving average is $98.38 and its 200-day moving average is $105.88. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same period last year, the company earned $1.91 earnings per share. The business’s quarterly revenue was down 7.4% compared to the same quarter last year. On average, analysts anticipate that Crown Castle Inc. will post 6.63 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.50%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Barclays lifted their target price on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Wells Fargo & Company cut their price objective on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Royal Bank of Canada cut their price objective on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating on the stock in a report on Tuesday, May 7th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a report on Monday, April 22nd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $114.21.

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.