Gilliland Jeter Wealth Management LLC Sells 2,773 Shares of Crown Castle Inc. (NYSE:CCI)

Gilliland Jeter Wealth Management LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 29.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,755 shares of the real estate investment trust’s stock after selling 2,773 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Crown Castle were worth $801,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new stake in Crown Castle in the 1st quarter worth about $27,000. Asset Dedication LLC increased its position in shares of Crown Castle by 159.0% during the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in Crown Castle by 163.9% during the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the period. New Millennium Group LLC purchased a new position in Crown Castle in the second quarter worth $34,000. Finally, ORG Partners LLC bought a new position in Crown Castle in the 2nd quarter valued at $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle stock in a transaction that occurred on 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 completion of the sale, the chief operating officer now directly owns 75,127 shares in the company, valued at $7,792,172.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Crown Castle Stock Performance

Shares of CCI opened at $112.38 on Monday. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The stock’s 50-day simple moving average is $114.03 and its 200 day simple moving average is $105.14. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.43 and a current ratio of 0.54. The stock has a market capitalization of $48.84 billion, a price-to-earnings ratio of 39.85 and a beta of 0.85.

Crown Castle (NYSE:CCI) last released its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to the consensus estimate of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $1.77 earnings per share. Research analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date was Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.57%. Crown Castle’s payout ratio is currently 221.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on CCI. Wells Fargo & Company lifted their target price on Crown Castle from $100.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Friday. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. JPMorgan Chase & Co. raised their price target on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a report on Thursday, July 18th. Finally, TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday. Twelve analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $116.47.

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.