Argent Trust Co decreases its share holdings in Crown Castle Inc. (NYSE:CCI)

Argent Trust Co reduced its holdings in Crown Castle Inc. (NYSE:CCI – Free Report) by 8.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,276 shares of the real estate investment trust’s stock after selling 815 shares during the quarter. Argent Trust Co’s holdings in Crown Castle were worth $906,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Gilbert & Cook Inc. raised its position in shares of Crown Castle by 3.7% during the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after acquiring an additional 110 shares during the last quarter. Level Four Advisory Services LLC lifted its position in shares of Crown Castle by 32.3% during the 4th quarter. Level Four Advisory Services LLC now owns 3,184 shares of the real estate investment trust’s stock worth $367,000 after buying another 777 shares in the last quarter. Clearbridge Investments LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $302,000. DA Davidson & CO. raised its position in shares of Crown Castle by 38.0% in the 4th quarter. DA Davidson & CO. now owns 20,181 shares of the real estate investment trust’s stock valued at $2,325,000 after buying an additional 5,555 shares in the last quarter. Finally, Assetmark Inc. raised its stake in Crown Castle by 58.8% during the 4th quarter. Assetmark Inc. now owns 14,189 shares of the real estate investment trust’s stock worth $1,634,000 after purchasing an additional 5,252 shares in the last quarter. 90.77% of the shares are currently owned by institutional investors and hedge funds.

Changes in Analyst Ratings

Several brokerages have issued reports on CCI. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Goldman Sachs Group initiated coverage on Crown Castle in a research note on Monday, July 1st. They set a “neutral” rating and a $104.00 price target on the stock. Bank of America boosted their price objective on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Royal Bank of Canada boosted their target price on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 25th. Finally, BMO Capital Markets raised their target price on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a report on Thursday, July 18th . Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $113.53, according to MarketBeat.

See the latest stock analysis on Crown Castle

Crown Castle price performance

Shares of NYSE:CCI opened at $115.17 on Friday. Crown Castle Inc. it has a 52-week low of $84.72 and a 52-week high of $120.92. The company has a 50-day moving average price of $111.35 and a 200-day moving average price of $104.09. The company has a market cap of $50.05 billion, a P/E ratio of 35.99 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.43, and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI – Get Your Free Report ) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. During the same period last year, the firm earned $2.05 EPS. The company’s quarterly revenue was down 12.9% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, September 13. This represents a dividend of $6.26 on an annualized basis and a dividend yield of 5.44%. Crown Castle’s dividend payout ratio (DPR) is currently 195.63%.

Indoor activity

In related 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 transaction of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at $7,792,172.44. The transaction was disclosed in a legal filing with the SEC, which can be accessed via this link. Insiders own 0.39% of the company’s shares.

Crown castle profile

(Free report)

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 miles of fiber route that support small cells and fiber solutions in every major US market. This national portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless services – bringing information, ideas and innovation to the people and businesses that need them.

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