Centaurus Financial Inc. Sells 1,056 Shares of Crown Castle Inc. (NYSE:CCI)

Centaurus Financial Inc. reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 23.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,388 shares of the real estate investment trust’s stock after selling 1,056 shares during the quarter. Centaurus Financial Inc.’s holdings in Crown Castle were worth $331,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Ables Iannone Moore & Associates Inc. bought a new position in shares of Crown Castle in the fourth quarter worth approximately $25,000. EntryPoint Capital LLC bought a new position in shares of Crown Castle in the 1st quarter worth $27,000. Richardson Financial Services Inc. bought a new position in shares of Crown Castle in the 4th quarter worth $30,000. Asset Dedication LLC increased its holdings in shares of Crown Castle by 159.0% in the 2nd quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 167 shares during the last quarter. Finally, Beacon Capital Management LLC raised its position in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE CCI opened at $111.48 on Friday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92. The stock has a market capitalization of $48.45 billion, a P/E ratio of 34.84 and a beta of 0.85. The company’s 50-day moving average is $113.83 and its 200 day moving average is $104.55. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping 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 return on equity of 19.20% and a net margin of 17.98%. The business’s revenue for the quarter was down 12.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.05 EPS. On average, sell-side analysts expect 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 was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 195.63%.

Wall Street Analyst Weigh In

Several research analysts have commented on CCI shares. JPMorgan Chase & Co. lifted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Royal Bank of Canada raised their price target on Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. BMO Capital Markets boosted their price objective on Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $115.40.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the 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 completion of the transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.