28,358 Crown Castle Inc. $CCI Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC decreased its stake in Crown Castle Inc. (NYSE:CCI) by 81.7% in the third quarter, HoldingsChannel reports. The firm owned 6,350 shares of the real estate investment trust’s stock after selling 28,358 shares during the period. Motley Fool Asset Management LLC’s holdings in Crown Castle were worth $423,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Assets Advisory LLC acquired a new stake in Crown Castle during the 1st quarter worth about $32,000. Pingora Partners LLC purchased a new stake in Crown Castle during the second quarter valued at about $30,000. Anchor Investment Management LLC boosted its holdings in shares of Crown Castle by 242.8% in the second quarter. Anchor Investment Management LLC now owns 473 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 335 shares during the period. J.Safra Asset Management Corp acquired a new position in shares of Crown Castle in the second quarter worth about $42,000. Finally, NBH Bank acquired a new position in shares of Crown Castle in the second quarter worth about $57,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3%

Shares of CCI opened at $88.89 on Friday. The firm has a market capitalization of $37.82 billion, a price-to-earnings ratio of 19.45, a P/E/G ratio of 0.77 and a beta of 0.94. Crown Castle Inc. has a 12-month low of $65.32 and a 12-month high of $95.07. The stock’s 50-day moving average price is $75.51 and its 200 day moving average price is $82.24.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). The business had revenue of $995.00 million during the quarter, compared to analyst estimates of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The business’s revenue for the quarter was down 7.2% on a year-over-year basis. During the same period last year, the company earned $1.12 EPS. Equities research analysts expect that Crown Castle Inc. will post 4.40 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th were given a dividend of $1.0625 per share. The ex-dividend date was Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. Crown Castle’s payout ratio is presently 223.68%.

Insider Transactions at Crown Castle

In other Crown Castle news, VP Robert Collins sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCI. Morgan Stanley set a $85.00 target price on shares of Crown Castle in a research report on Monday, September 21st. TD Cowen upped their price target on shares of Crown Castle from $92.00 to $98.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. JPMorgan Chase & Co. downgraded shares of Crown Castle from a “neutral” rating to an “underweight” rating and reduced their price target for the company from $85.00 to $80.00 in a research report on Monday, September 14th. Weiss Ratings raised shares of Crown Castle from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday. Finally, BMO Capital Markets lowered their price objective on shares of Crown Castle to $93.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $94.27.

Crown Castle Profile

Crown Castle Inc (NYSE: CCI) is a real estate investment trust that owns, operates and leases communications infrastructure in the United States. Its assets support wireless carriers, broadcasters, government agencies and other communications providers by enabling the transmission of voice, data and video services.

The company’s infrastructure has historically included approximately 40,000 cell towers, about 90,000 route miles of fiber and a large portfolio of small-cell installations.