B. Riley Wealth Advisors Inc. Has $1.24 Million Stake in Crown Castle Inc. (NYSE:CCI)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 20.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,675 shares of the real estate investment trust’s stock after selling 3,608 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Crown Castle were worth $1,241,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Twin Tree Management LP bought a new stake in Crown Castle during the fourth quarter valued at about $25,000. Roxbury Financial LLC bought a new stake in Crown Castle during the fourth quarter valued at about $37,000. Vermillion Wealth Management Inc. bought a new stake in Crown Castle during the fourth quarter valued at about $38,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the fourth quarter valued at about $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle during the fourth quarter valued at about $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CCI shares. Wall Street Zen cut shares of Crown Castle from a “hold” rating to a “sell” rating in a report on Wednesday, May 21st. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a report on Friday, March 14th. Royal Bank of Canada upped their price target on shares of Crown Castle from $107.00 to $112.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. Citigroup upped their price target on shares of Crown Castle from $108.00 to $124.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Bank of America assumed coverage on shares of Crown Castle in a research note on Monday, May 19th. They issued a “buy” rating and a $115.00 target price for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have issued a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.71.

Crown Castle Stock Up 0.4%

Shares of CCI opened at $100.55 on Wednesday. The stock has a market cap of $43.79 billion, a price-to-earnings ratio of 35.66 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a 50-day moving average price of $101.74 and a two-hundred day moving average price of $97.30.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.72 EPS. Equities 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. This represents a $4.25 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend is Friday, June 13th. Crown Castle’s dividend payout ratio is -39.50%.

Insider Transactions at Crown Castle

In other news, VP Robert Sean Collins sold 3,600 shares of the firm’s stock in a transaction that occurred on 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 owns 6,465 shares of the company’s stock, valued at approximately $689,944.80. This trade represents a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Daniel K. Schlanger sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the sale, the chief executive officer now directly owns 110,571 shares of the company’s stock, 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 sold 31,600 shares of company stock valued at $3,362,752. Corporate insiders own 0.10% of the company’s stock.

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.