YANKCOM Partnership Sells 99 Shares of Crown Castle Inc. (NYSE:CCI)

YANKCOM Partnership lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,040 shares of the real estate investment trust’s stock after selling 99 shares during the quarter. YANKCOM Partnership’s holdings in Crown Castle were worth $838,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. CHICAGO TRUST Co NA raised its position in shares of Crown Castle by 3.0% during the first quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust’s stock valued at $368,000 after buying an additional 104 shares during the last quarter. Beacon Capital Management LLC increased its stake in Crown Castle by 36.6% during the first quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust’s stock valued at $47,000 after acquiring an additional 120 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of Crown Castle by 0.3% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock worth $3,894,000 after acquiring an additional 120 shares during the period. Capital Advisors Ltd. LLC grew its holdings in shares of Crown Castle by 62.1% during the 1st quarter. Capital Advisors Ltd. LLC now owns 347 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 133 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its position in shares of Crown Castle by 6.1% during the first quarter. Cidel Asset Management Inc. now owns 2,424 shares of the real estate investment trust’s stock valued at $253,000 after purchasing an additional 139 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CCI shares. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Friday, March 14th. Raymond James Financial upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their target price for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. JMP Securities upped their price target on Crown Castle from $115.00 to $125.00 and gave the company a “market outperform” rating in a research report on Thursday, May 1st. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $85.00 to $105.00 in a report on Monday, March 17th. Finally, Barclays upped their target price 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $112.71.

Crown Castle Price Performance

Shares of CCI opened at $102.92 on Monday. The firm has a market cap of $44.82 billion, a PE ratio of -9.57, a PEG ratio of 0.80 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock’s fifty day moving average price is $101.48 and its two-hundred day moving average price is $96.96.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter last year, the business posted $1.72 EPS. The business’s revenue was down 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 4.13%. The ex-dividend date of this dividend was Friday, June 13th. Crown Castle’s dividend payout ratio is presently -39.50%.

Insider Buying and Selling

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of Crown Castle stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.37, for a total value of $850,960.00. Following the sale, the executive vice president owned 20,528 shares in the company, valued at $2,183,563.36. The trade was a 28.04% 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, VP Robert Sean Collins sold 3,600 shares of the company’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.72, for a total transaction of $384,192.00. Following the completion of the transaction, the vice president owned 6,465 shares of the company’s stock, valued at $689,944.80. This trade represents a 35.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,600 shares of company stock worth $3,362,752 in the last ninety days. 0.10% of the stock is owned by insiders.

Crown Castle Company 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.