Crown Castle Inc. (NYSE:CCI) Shares Sold by Albion Financial Group UT

Albion Financial Group UT lessened its stake in Crown Castle Inc. (NYSE:CCI) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,513 shares of the real estate investment trust’s stock after selling 259 shares during the quarter. Albion Financial Group UT’s holdings in Crown Castle were worth $4,213,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Ables Iannone Moore & Associates Inc. acquired a new position in shares of Crown Castle during the 4th quarter valued at $25,000. EntryPoint Capital LLC acquired a new position in shares of Crown Castle during the 1st quarter valued at $27,000. Richardson Financial Services Inc. acquired a new position in shares of Crown Castle during the 4th quarter valued at $30,000. Asset Dedication LLC lifted its holdings in shares of Crown Castle by 159.0% during the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its holdings in shares of Crown Castle by 163.9% during the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 177 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the sale, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of several analyst reports. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen lifted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research note on Thursday, July 18th. Barclays lifted their price target on shares of Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $115.67.

Crown Castle Trading Down 1.4 %

Crown Castle stock opened at $109.94 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. The firm has a 50-day moving average price of $113.92 and a two-hundred day moving average price of $104.75. The firm has a market capitalization of $47.78 billion, a price-to-earnings ratio of 40.27 and a beta of 0.85. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $1.63 billion during the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Sell-side analysts expect that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.69%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

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.