Crown Castle Inc. (NYSE:CCI) Shares Sold by Golden State Equity Partners

Golden State Equity Partners trimmed its position in Crown Castle Inc. (NYSE:CCI) by 19.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,024 shares of the real estate investment trust’s stock after selling 1,410 shares during the quarter. Golden State Equity Partners’ holdings in Crown Castle were worth $694,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Operose Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at approximately $30,000. Valley National Advisers Inc. grew its stake in shares of Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. HHM Wealth Advisors LLC grew its stake in shares of Crown Castle by 154.8% during the third quarter. HHM Wealth Advisors LLC now owns 395 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 240 shares in the last quarter. Rosenberg Matthew Hamilton grew its stake in shares of Crown Castle by 43.6% during the fourth quarter. Rosenberg Matthew Hamilton now owns 372 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 113 shares in the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Crown Castle by 123.3% during the third quarter. Larson Financial Group LLC now owns 480 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 265 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group reduced their price target on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, April 18th. Scotiabank reduced their price target on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating for the company in a research report on Thursday, April 18th. Bank of America reduced their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Royal Bank of Canada boosted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets reduced their price target on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating for the company in a research report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $113.29.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.63 on Friday, reaching $93.58. The company’s stock had a trading volume of 2,697,322 shares, compared to its average volume of 2,940,738. The stock has a market capitalization of $40.66 billion, a P/E ratio of 29.24, a PEG ratio of 2.51 and a beta of 0.73. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $123.79. The stock’s 50-day moving average is $103.65 and its two-hundred day moving average is $105.25. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.40.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.92). The firm had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.91 earnings per share. As a group, sell-side analysts forecast that Crown Castle Inc. will post 6.59 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.69%. Crown Castle’s dividend payout ratio is currently 195.63%.

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.