Coldstream Capital Management Inc. Sells 262 Shares of Crown Castle Inc. (NYSE:CCI)

Coldstream Capital Management Inc. trimmed its position in Crown Castle Inc. (NYSE:CCI) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,642 shares of the real estate investment trust’s stock after selling 262 shares during the period. Coldstream Capital Management Inc.’s holdings in Crown Castle were worth $844,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in Crown Castle by 12.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 108 shares during the period. Gilbert & Cook Inc. boosted its holdings in Crown Castle by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock valued at $355,000 after purchasing an additional 110 shares during the period. Benedict Financial Advisors Inc. boosted its holdings in Crown Castle by 4.0% in the 1st quarter. Benedict Financial Advisors Inc. now owns 2,947 shares of the real estate investment trust’s stock valued at $312,000 after purchasing an additional 113 shares during the period. HM Payson & Co. boosted its holdings in Crown Castle by 5.3% in the 1st quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 114 shares during the period. Finally, OFI Invest Asset Management raised its position in shares of Crown Castle by 41.5% during the 1st quarter. OFI Invest Asset Management now owns 402 shares of the real estate investment trust’s stock valued at $39,000 after buying an additional 118 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CCI shares. Raymond James restated an “outperform” rating and set a $126.00 price objective (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. BMO Capital Markets raised their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Royal Bank of Canada raised their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, The Goldman Sachs Group started coverage on shares of Crown Castle in a research report on Monday, July 1st. They set a “neutral” rating and a $104.00 price objective on the stock. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $113.53.

Crown Castle Price Performance

CCI stock opened at $120.14 on Thursday. The firm’s 50-day moving average price is $108.87 and its two-hundred day moving average price is $103.63. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $120.31. The stock has a market capitalization of $52.20 billion, a price-to-earnings ratio of 37.54 and a beta of 0.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm had revenue of $1.63 billion for the quarter, compared to analysts’ expectations of $1.62 billion. During the same quarter in the previous year, the company earned $2.05 earnings per share. The company’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, equities analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date is Friday, September 13th. Crown Castle’s payout ratio is 195.63%.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the transaction, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% 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.