Crown Castle Inc. (NYSE:CCI) Shares Acquired by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC lifted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,343 shares of the real estate investment trust’s stock after buying an additional 858 shares during the period. SeaCrest Wealth Management LLC’s holdings in Crown Castle were worth $752,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in Crown Castle during the 1st quarter worth about $27,000. Asset Dedication LLC boosted its position in Crown Castle by 159.0% in 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 last quarter. Beacon Capital Management LLC increased its holdings in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the period. ORG Partners LLC purchased a new position in Crown Castle during the 2nd quarter worth approximately $34,000. Finally, New Millennium Group LLC acquired a new stake in Crown Castle during the 2nd quarter valued at approximately $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CCI has been the topic of a number of research reports. Bank of America increased their price objective 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. Royal Bank of Canada boosted their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen upped their target price on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. JPMorgan Chase & Co. lifted their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets upped their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Eleven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $115.86.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction on 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 completion of the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by insiders.

Crown Castle Stock Performance

CCI opened at $115.78 on Thursday. The company has a market cap of $50.31 billion, a price-to-earnings ratio of 42.41 and a beta of 0.85. The firm’s fifty day simple moving average is $113.98 and its two-hundred day simple moving average is $105.00. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The company had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. Crown Castle’s revenue was down 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 EPS. Equities analysts anticipate that Crown Castle Inc. will post 6.65 earnings per share for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

Crown Castle Company 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.