Atlantic Union Bankshares Corp Sells 4,595 Shares of Crown Castle Inc. (NYSE:CCI)

Atlantic Union Bankshares Corp decreased its position in Crown Castle Inc. (NYSE:CCI) by 33.8% during the first quarter, Holdings Channel reports. The fund owned 9,000 shares of the real estate investment trust’s stock after selling 4,595 shares during the period. Atlantic Union Bankshares Corp’s holdings in Crown Castle were worth $952,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ables Iannone Moore & Associates Inc. purchased a new position in shares of Crown Castle in the fourth quarter worth approximately $25,000. Richardson Financial Services Inc. bought a new stake in Crown Castle during the fourth quarter valued at about $30,000. Gables Capital Management Inc. raised its holdings in 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 acquiring an additional 164 shares during the period. Valley National Advisers Inc. lifted its position in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after acquiring an additional 97 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its stake in shares of Crown Castle by 126.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 312 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 174 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

CCI opened at $97.70 on Friday. The business has a fifty day moving average of $98.42 and a 200 day moving average of $104.74. The stock has a market cap of $42.45 billion, a P/E ratio of 30.53, a PEG ratio of 2.58 and a beta of 0.82. The company has a quick ratio of 0.42, a current ratio of 0.42 and a debt-to-equity ratio of 3.73. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.63 billion. Crown Castle had a net margin of 20.32% and a return on equity of 21.30%. The firm’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.91 earnings per share. As a group, sell-side analysts anticipate that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were paid a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.41%. Crown Castle’s dividend payout ratio is currently 195.63%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CCI. Scotiabank decreased their target price on Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research note on Thursday, April 18th. BMO Capital Markets lowered their target price on shares of Crown Castle from $110.00 to $105.00 and set a “market perform” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada cut their target price on shares of Crown Castle from $109.00 to $100.00 and set a “sector perform” rating for the company in a research note on Tuesday, May 7th. Barclays lifted their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a report on Tuesday, April 23rd. Finally, Wells Fargo & Company reduced their target price on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $114.21.

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.