Crown Castle Inc. (NYSE:CCI) Shares Sold by B. Riley Wealth Advisors Inc.

B. Riley Wealth Advisors Inc. lessened its position in Crown Castle Inc. (NYSE:CCI) by 35.8% in the 3rd quarter, Holdings Channel reports. The fund owned 17,283 shares of the real estate investment trust’s stock after selling 9,641 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Crown Castle were worth $2,015,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new position in Crown Castle during the 3rd quarter valued at about $25,000. Asset Dedication LLC grew its holdings in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings 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 valued at $31,000 after purchasing an additional 136 shares during the period. New Millennium Group LLC purchased a new stake in Crown Castle in the second quarter valued at approximately $34,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Crown Castle in the second quarter valued at approximately $35,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 1.7 %

Crown Castle stock opened at $97.11 on Monday. The company has a 50-day simple moving average of $106.57 and a 200-day simple moving average of $107.21. The firm has a market capitalization of $42.20 billion, a P/E ratio of 34.44 and a beta of 0.86. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $92.48 and a one year high of $120.92.

Crown Castle (NYSE:CCI) last released its quarterly earnings results 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 firm had revenue of $1.65 billion for 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%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.77 EPS. As a group, equities analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.45%. Crown Castle’s payout ratio is 221.99%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. boosted their target price on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. UBS Group boosted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Citigroup set a $128.00 price target on shares of Crown Castle in a research report on Thursday, October 17th. Finally, Jefferies Financial Group lifted their price target on shares of Crown Castle from $123.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $117.00.

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.