B. Riley Wealth Advisors Inc. Sells 12,041 Shares of Crown Castle Inc. (NYSE:CCI)

B. Riley Wealth Advisors Inc. cut its stake in Crown Castle Inc. (NYSE:CCI) by 30.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,924 shares of the real estate investment trust’s stock after selling 12,041 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Crown Castle were worth $2,630,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. EntryPoint Capital LLC acquired a new position in Crown Castle in the first quarter valued at approximately $27,000. Richardson Financial Services Inc. acquired a new position in Crown Castle in the fourth quarter valued at approximately $30,000. Asset Dedication LLC lifted its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 167 shares during the period. Finally, Beacon Capital Management LLC lifted its stake in Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 177 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.4 %

Shares of NYSE:CCI opened at $119.13 on Wednesday. The company has a market capitalization of $51.77 billion, a PE ratio of 37.23 and a beta of 0.85. The company has a debt-to-equity ratio of 4.04, a current ratio of 0.43 and a quick ratio of 0.43. The business has a fifty day moving average price of $113.37 and a two-hundred day moving average price of $104.35. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $120.92.

Crown Castle (NYSE:CCI) last announced 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. The firm had revenue of $1.63 billion during 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 company earned $2.05 EPS. Analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.25%. Crown Castle’s dividend payout ratio (DPR) is presently 195.63%.

Analysts Set New Price Targets

CCI has been the topic of several recent analyst reports. TD Cowen boosted their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Raymond James reissued an “outperform” rating and issued a $126.00 price target (up from $124.00) on shares of Crown Castle in a research note on Friday, June 14th. The Goldman Sachs Group boosted their price target on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upped their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $115.40.

Insider Buying and Selling at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction 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 transaction, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.39% of the company’s stock.

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.