Procyon Advisors LLC Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

Procyon Advisors LLC cut its stake in Crown Castle Inc. (NYSE:CCI) by 5.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,165 shares of the real estate investment trust’s stock after selling 134 shares during the period. Procyon Advisors LLC’s holdings in Crown Castle were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in shares of Crown Castle by 9.8% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,668 shares of the real estate investment trust’s stock valued at $198,000 after purchasing an additional 149 shares during the last quarter. Gilman Hill Asset Management LLC raised its position in shares of Crown Castle by 5.3% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 39,958 shares of the real estate investment trust’s stock worth $4,740,000 after buying an additional 2,028 shares during the period. McGlone Suttner Wealth Management Inc. boosted its holdings in Crown Castle by 27.7% in the third quarter. McGlone Suttner Wealth Management Inc. now owns 2,445 shares of the real estate investment trust’s stock valued at $290,000 after acquiring an additional 531 shares during the last quarter. Crestmont Private Wealth LLC purchased a new stake in Crown Castle during the third quarter valued at about $225,000. Finally, Exchange Traded Concepts LLC acquired a new stake in Crown Castle during the third quarter worth about $120,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on CCI shares. Royal Bank of Canada boosted their target price on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. The Goldman Sachs Group increased their price objective on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. TD Cowen lifted their target price on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Bank of America upped their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Barclays boosted their price objective on Crown Castle from $112.00 to $116.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 10th. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $115.86.

Insider Buying and Selling at Crown Castle

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total value of $1,128,784.76. Following the completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by insiders.

Crown Castle Stock Performance

Crown Castle stock opened at $115.78 on Thursday. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock has a 50 day moving average of $113.98 and a 200-day moving average of $105.00. The stock has a market cap of $50.31 billion, a P/E ratio of 42.41 and a beta of 0.85. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s revenue was down 12.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.05 EPS. On average, analysts expect that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.41%. The ex-dividend date was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

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.