Atria Wealth Solutions Inc. Acquires 3,018 Shares of Crown Castle Inc. (NYSE:CCI)

Atria Wealth Solutions Inc. boosted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 9.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 33,519 shares of the real estate investment trust’s stock after purchasing an additional 3,018 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Crown Castle were worth $3,275,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of CCI. Ables Iannone Moore & Associates Inc. bought a new position in shares of Crown Castle in the 4th quarter valued at about $25,000. Rational Advisors LLC bought a new stake in shares of Crown Castle in the 1st quarter valued at approximately $27,000. EntryPoint Capital LLC purchased a new position in shares of Crown Castle in the 1st quarter worth approximately $27,000. Richardson Financial Services Inc. bought a new position in shares of Crown Castle during the 4th quarter valued at approximately $30,000. Finally, Gables Capital Management Inc. raised its holdings in Crown Castle by 164.0% during the 4th quarter. Gables Capital Management Inc. now owns 264 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 164 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 transaction, the chief operating officer now directly owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Bank of America lifted their price target on shares of Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group began coverage on shares of Crown Castle in a research report on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective on the stock. Raymond James restated an “outperform” rating and set a $126.00 target price (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Finally, Barclays upped their target price on Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. Twelve investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average target price of $113.53.

Crown Castle Stock Down 0.4 %

Shares of Crown Castle stock traded down $0.41 during trading on Wednesday, hitting $109.57. 1,452,187 shares of the stock traded hands, compared to its average volume of 2,702,708. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04. The stock’s fifty day simple moving average is $103.63 and its 200 day simple moving average is $102.94. The firm has a market cap of $47.62 billion, a P/E ratio of 34.24 and a beta of 0.83. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $119.50.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The business had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the firm posted $2.05 EPS. The company’s revenue for the quarter was down 12.9% on a year-over-year basis. On average, equities analysts predict that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.71%. The ex-dividend date of this dividend is Friday, September 13th. Crown Castle’s dividend payout ratio (DPR) is 195.63%.

Crown Castle 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.