Bbjs Financial Advisors LLC Sells 4,377 Shares of Crown Castle Inc. (NYSE:CCI)

Bbjs Financial Advisors LLC cut its stake in Crown Castle Inc. (NYSE:CCI) by 35.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,946 shares of the real estate investment trust’s stock after selling 4,377 shares during the quarter. Crown Castle comprises about 0.3% of Bbjs Financial Advisors LLC’s holdings, making the stock its 28th largest position. Bbjs Financial Advisors LLC’s holdings in Crown Castle were worth $776,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in CCI. Ables Iannone Moore & Associates Inc. bought a new position in Crown Castle during the 4th quarter worth approximately $25,000. Rational Advisors LLC bought a new stake in Crown Castle during the 1st quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in Crown Castle during the 1st quarter valued at $27,000. Richardson Financial Services Inc. bought a new stake in Crown Castle in the 4th quarter worth $30,000. Finally, Gables Capital Management Inc. increased its position in shares of Crown Castle by 164.0% in the fourth quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 164 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

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

Analysts Set New Price Targets

CCI has been the topic of a number of analyst reports. Argus cut shares of Crown Castle from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Wells Fargo & Company reduced their price target on shares of Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a research report on Friday, April 19th. Raymond James reaffirmed an “outperform” rating and issued a $126.00 price objective (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Deutsche Bank Aktiengesellschaft boosted their price target on Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, Bank of America increased their price target on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Tuesday. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $113.53.

Crown Castle Price Performance

Shares of CCI traded down $0.37 during mid-day trading on Tuesday, hitting $110.36. 1,504,693 shares of the stock were exchanged, compared to its average volume of 2,744,773. The firm has a 50-day moving average of $102.42 and a two-hundred day moving average of $102.85. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $47.96 billion, a PE ratio of 34.62 and a beta of 0.83.

Crown Castle (NYSE:CCI) last issued its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business had revenue of $1.63 billion during the quarter, compared to analysts’ expectations of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business’s revenue was down 12.9% on a year-over-year basis. During the same period last year, the company posted $2.05 EPS. On average, equities analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.67%. Crown Castle’s dividend payout ratio is presently 195.63%.

Crown Castle Company 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.