Transcend Capital Advisors LLC Sells 419 Shares of Crown Castle Inc. (NYSE:CCI)

Transcend Capital Advisors LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCIGet Rating) by 4.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,475 shares of the real estate investment trust’s stock after selling 419 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Crown Castle were worth $1,427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Advisor Resource Council bought a new stake in Crown Castle in the 4th quarter worth about $257,000. O Shaughnessy Asset Management LLC increased its holdings in Crown Castle by 10.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 7,886 shares of the real estate investment trust’s stock worth $1,646,000 after buying an additional 752 shares in the last quarter. Level Four Advisory Services LLC bought a new stake in Crown Castle in the 4th quarter worth about $400,000. Gamco Investors INC. ET AL bought a new stake in Crown Castle in the 4th quarter worth about $240,000. Finally, Invesco Ltd. increased its holdings in Crown Castle by 0.9% in the 4th quarter. Invesco Ltd. now owns 3,085,322 shares of the real estate investment trust’s stock worth $644,030,000 after buying an additional 26,419 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.1 %

CCI stock opened at $163.42 on Tuesday. Crown Castle Inc. has a twelve month low of $153.70 and a twelve month high of $209.87. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 2.70. The stock has a market cap of $70.77 billion, a P/E ratio of 45.90 and a beta of 0.60. The business’s 50-day moving average price is $174.61 and its 200-day moving average price is $178.11.

Crown Castle (NYSE:CCIGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The real estate investment trust reported $0.97 EPS for the quarter, missing analysts’ consensus estimates of $1.71 by ($0.74). Crown Castle had a return on equity of 18.93% and a net margin of 22.91%. The business had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.71 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. On average, equities research analysts forecast that Crown Castle Inc. will post 7.03 EPS for the current year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be issued a $1.47 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $5.88 dividend on an annualized basis and a yield of 3.60%. Crown Castle’s dividend payout ratio is presently 165.17%.

Insider Buying and Selling

In other Crown Castle news, Director Kevin A. Stephens purchased 699 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were bought at an average cost of $173.60 per share, with a total value of $121,346.40. Following the acquisition, the director now owns 10,703 shares in the company, valued at $1,858,040.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.47% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Jefferies Financial Group upgraded Crown Castle from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $191.00 to $200.00 in a report on Thursday, June 30th. StockNews.com upgraded Crown Castle from a “hold” rating to a “buy” rating in a research note on Friday, August 12th. Wells Fargo & Company cut their price target on Crown Castle from $180.00 to $175.00 and set an “underweight” rating for the company in a research note on Tuesday, July 19th. Barclays cut their price target on Crown Castle from $214.00 to $212.00 and set an “overweight” rating for the company in a research note on Friday, August 26th. Finally, Raymond James cut their price target on Crown Castle from $206.00 to $201.00 in a research note on Friday, July 22nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $195.20.

Crown Castle Company Profile

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Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 80,000 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.

See Also

Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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