Laurel Wealth Advisors Inc. Sells 1,455 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Laurel Wealth Advisors Inc. trimmed its position in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,214 shares of the real estate investment trust’s stock after selling 1,455 shares during the period. Laurel Wealth Advisors Inc.’s holdings in CROWN CASTLE IN/SH SH were worth $1,722,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Lindbrook Capital LLC lifted its holdings in CROWN CASTLE IN/SH SH by 11.4% during the 2nd quarter. Lindbrook Capital LLC now owns 821 shares of the real estate investment trust’s stock worth $107,000 after buying an additional 84 shares in the last quarter. Sunbelt Securities Inc. raised its position in shares of CROWN CASTLE IN/SH SH by 4.7% during the 2nd quarter. Sunbelt Securities Inc. now owns 1,972 shares of the real estate investment trust’s stock valued at $257,000 after acquiring an additional 88 shares during the last quarter. Cornerstone Advisors Inc. raised its position in shares of CROWN CASTLE IN/SH SH by 4.6% during the 2nd quarter. Cornerstone Advisors Inc. now owns 2,045 shares of the real estate investment trust’s stock valued at $267,000 after acquiring an additional 89 shares during the last quarter. RB Capital Management LLC raised its position in shares of CROWN CASTLE IN/SH SH by 1.0% during the 1st quarter. RB Capital Management LLC now owns 9,000 shares of the real estate investment trust’s stock valued at $1,152,000 after acquiring an additional 90 shares during the last quarter. Finally, National Asset Management Inc. raised its position in shares of CROWN CASTLE IN/SH SH by 2.5% during the 1st quarter. National Asset Management Inc. now owns 3,673 shares of the real estate investment trust’s stock valued at $473,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

In related news, VP Robert Sean Collins sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $143.34, for a total value of $143,340.00. Following the completion of the sale, the vice president now directly owns 616 shares in the company, valued at approximately $88,297.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Landis Martin bought 16,300 shares of the business’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was purchased at an average price of $127.33 per share, with a total value of $2,075,479.00. Following the completion of the purchase, the director now directly owns 130,617 shares in the company, valued at approximately $16,631,462.61. The disclosure for this purchase can be found here. 0.41% of the stock is currently owned by corporate insiders.

Several brokerages have commented on CCI. Morgan Stanley upped their target price on shares of CROWN CASTLE IN/SH SH from $129.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, May 20th. JPMorgan Chase & Co. upgraded shares of CROWN CASTLE IN/SH SH from a “neutral” rating to an “overweight” rating and upped their target price for the company from $125.00 to $150.00 in a research report on Thursday, August 1st. New Street Research cut shares of CROWN CASTLE IN/SH SH from a “neutral” rating to a “sell” rating and set a $113.00 target price for the company. in a research report on Thursday, June 13th. Bank of America reiterated a “buy” rating and set a $151.00 target price (up previously from $133.00) on shares of CROWN CASTLE IN/SH SH in a research report on Wednesday, August 14th. Finally, Citigroup dropped their target price on shares of CROWN CASTLE IN/SH SH from $144.00 to $138.00 and set a “neutral” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $129.36.

Shares of CCI traded up $0.40 during trading hours on Friday, reaching $139.21. The stock had a trading volume of 153,436 shares, compared to its average volume of 1,374,506. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.99. CROWN CASTLE IN/SH SH has a 52 week low of $103.21 and a 52 week high of $149.47. The firm has a 50-day moving average of $140.81 and a 200 day moving average of $130.99. The company has a market cap of $57.71 billion, a P/E ratio of 25.40, a P/E/G ratio of 1.59 and a beta of 0.27.

CROWN CASTLE IN/SH SH (NYSE:CCI) last released its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.37 by ($0.85). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.42 billion. CROWN CASTLE IN/SH SH had a return on equity of 7.00% and a net margin of 14.62%. CROWN CASTLE IN/SH SH’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS. As a group, equities analysts expect that CROWN CASTLE IN/SH SH will post 5.64 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a dividend of $1.125 per share. This represents a $4.50 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Thursday, September 12th. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 82.12%.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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.

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Institutional Ownership by Quarter for CROWN CASTLE IN/SH SH (NYSE:CCI)

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