CVA Family Office LLC Sells 929 Shares of Crown Castle Inc. (NYSE:CCI)

CVA Family Office LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 46.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,051 shares of the real estate investment trust’s stock after selling 929 shares during the period. CVA Family Office LLC’s holdings in Crown Castle were worth $103,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of CCI. AMF Tjanstepension AB grew its holdings in shares of Crown Castle by 6.1% during the 2nd quarter. AMF Tjanstepension AB now owns 149,398 shares of the real estate investment trust’s stock valued at $14,629,000 after purchasing an additional 8,604 shares during the last quarter. Park Avenue Securities LLC grew its stake in shares of Crown Castle by 43.9% in the second quarter. Park Avenue Securities LLC now owns 41,503 shares of the real estate investment trust’s stock worth $4,055,000 after purchasing an additional 12,663 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Crown Castle by 15.6% in the second quarter. Kingswood Wealth Advisors LLC now owns 14,301 shares of the real estate investment trust’s stock valued at $1,397,000 after purchasing an additional 1,926 shares during the period. Mather Group LLC. raised its position in Crown Castle by 25.9% during the 2nd quarter. Mather Group LLC. now owns 1,362 shares of the real estate investment trust’s stock worth $144,000 after purchasing an additional 280 shares during the last quarter. Finally, Trust Co. of Toledo NA OH raised its position in Crown Castle by 18.9% during the 2nd quarter. Trust Co. of Toledo NA OH now owns 8,721 shares of the real estate investment trust’s stock worth $852,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI traded down $1.70 during trading hours on Wednesday, hitting $111.27. The stock had a trading volume of 2,183,749 shares, compared to its average volume of 2,762,361. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $119.50. The company’s fifty day simple moving average is $101.61 and its 200 day simple moving average is $102.77. The stock has a market cap of $48.35 billion, a PE ratio of 34.77 and a beta of 0.83. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04.

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 the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $2.05 earnings per share. The company’s revenue was down 12.9% on a year-over-year basis. Equities analysts anticipate that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $1.565 dividend. The ex-dividend date was Friday, June 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.63%. Crown Castle’s payout ratio is currently 195.63%.

Insider Buying and Selling at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’s stock in a transaction dated Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft increased their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. BMO Capital Markets lifted their target price 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. Royal Bank of Canada raised their price objective on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Scotiabank cut their price objective on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Finally, Bank of America increased their target price on shares of Crown Castle from $105.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, July 18th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $113.20.

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.