Ashton Thomas Private Wealth LLC Sells 484 Shares of Crown Castle Inc. (NYSE:CCI)

Ashton Thomas Private Wealth LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,240 shares of the real estate investment trust’s stock after selling 484 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Crown Castle were worth $2,466,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in CCI. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $25,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle during the first quarter valued at approximately $27,000. Asset Dedication LLC boosted its position 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 valued at $27,000 after buying an additional 167 shares during the period. Gables Capital Management Inc. boosted its position in shares of Crown Castle by 164.0% during the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the period. Finally, Richardson Financial Services Inc. purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $30,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $117.54 on Tuesday. The stock has a 50-day moving average of $107.90 and a two-hundred day moving average of $103.44. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The stock has a market cap of $51.08 billion, a P/E ratio of 36.73 and a beta of 0.85.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The company had revenue of $1.63 billion during 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%. The firm’s revenue was down 12.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. As a group, research analysts predict that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.33%. Crown Castle’s payout ratio is currently 195.63%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Royal Bank of Canada raised their price objective on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. BMO Capital Markets raised their price objective on Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. The Goldman Sachs Group initiated coverage on Crown Castle in a report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Bank of America increased their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Raymond James reissued an “outperform” rating and issued a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $113.53.

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.