SeaCrest Wealth Management LLC Sells 224 Shares of Crown Castle Inc. (NYSE:CCI)

SeaCrest Wealth Management LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 3.9% during the first quarter, Holdings Channel reports. The firm owned 5,523 shares of the real estate investment trust’s stock after selling 224 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Crown Castle were worth $585,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Dakota Community Bank & Trust NA raised its holdings in Crown Castle by 4.2% in the 3rd quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 90 shares during the period. Valley National Advisers Inc. raised its holdings in Crown Castle by 51.1% in the 4th 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 during the period. Pinnacle Bancorp Inc. raised its holdings in Crown Castle by 17.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 677 shares of the real estate investment trust’s stock valued at $78,000 after acquiring an additional 100 shares during the period. Waterfront Wealth Inc. raised its holdings in Crown Castle by 1.9% in the 4th quarter. Waterfront Wealth Inc. now owns 5,515 shares of the real estate investment trust’s stock valued at $635,000 after acquiring an additional 101 shares during the period. Finally, Raleigh Capital Management Inc. raised its holdings in Crown Castle by 0.5% in the 3rd quarter. Raleigh Capital Management Inc. now owns 18,986 shares of the real estate investment trust’s stock valued at $1,747,000 after acquiring an additional 103 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CCI shares. Raymond James reissued an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a report on Friday, June 14th. BMO Capital Markets decreased 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 research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $110.00 to $109.00 and set a “hold” rating on the stock in a research report on Monday, April 22nd. Scotiabank decreased their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Finally, Wells Fargo & Company decreased 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 research report on Friday, April 19th. Twelve research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Trading Down 0.7 %

NYSE:CCI opened at $95.28 on Wednesday. The company has a debt-to-equity ratio of 3.73, a current ratio of 0.42 and a quick ratio of 0.42. The firm has a 50-day moving average of $98.44 and a 200-day moving average of $104.46. The company has a market cap of $41.40 billion, a PE ratio of 29.78, a PEG ratio of 2.59 and a beta of 0.83. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing the consensus estimate of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.63 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis. As a group, equities research analysts expect that Crown Castle Inc. will post 6.62 EPS for the current fiscal 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. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s payout ratio is 195.63%.

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.