SeaCrest Wealth Management LLC Has $217,000 Position in Crown Castle Inc. (NYSE:CCI)

SeaCrest Wealth Management LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 9.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,078 shares of the real estate investment trust’s stock after selling 222 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Crown Castle were worth $217,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CCI. Twin Tree Management LP bought a new position in Crown Castle in the 4th quarter valued at approximately $25,000. American National Bank & Trust bought a new position in shares of Crown Castle during the first quarter valued at $29,000. Versant Capital Management Inc lifted its holdings in shares of Crown Castle by 95.2% during the first quarter. Versant Capital Management Inc now owns 408 shares of the real estate investment trust’s stock worth $43,000 after purchasing an additional 199 shares during the period. Roxbury Financial LLC bought a new stake in shares of Crown Castle in the fourth quarter worth $37,000. Finally, Vermillion Wealth Management Inc. acquired a new stake in Crown Castle in the fourth quarter valued at $38,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Robert Sean Collins sold 3,600 shares of the business’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the sale, the vice president now directly owns 6,465 shares of the company’s stock, valued at $689,944.80. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Daniel K. Schlanger sold 20,000 shares of the firm’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the transaction, the chief executive officer now directly owns 110,571 shares in the company, valued at approximately $11,762,542.98. The trade was a 15.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,600 shares of company stock worth $3,362,752. Insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $98.97 on Monday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market cap of $43.10 billion, a PE ratio of 35.09 and a beta of 0.88. The stock has a 50-day moving average of $101.17 and a 200-day moving average of $97.04. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.62). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.72 EPS. The firm’s revenue was down 4.8% on a year-over-year basis. On average, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a dividend of $1.0625 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.29%. Crown Castle’s dividend payout ratio (DPR) is presently -39.50%.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Wall Street Zen downgraded Crown Castle from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. Barclays raised their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Finally, Bank of America started coverage on shares of Crown Castle in a research report on Monday, May 19th. They issued a “buy” rating and a $115.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $112.71.

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.