Thrive Wealth Management LLC Sells 828 Shares of Crown Castle Inc. (NYSE:CCI)

Thrive Wealth Management LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 19.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,350 shares of the real estate investment trust’s stock after selling 828 shares during the quarter. Thrive Wealth Management LLC’s holdings in Crown Castle were worth $355,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Ables Iannone Moore & Associates Inc. bought a new stake in Crown Castle during the 4th quarter valued at approximately $25,000. Operose Advisors LLC purchased a new position in Crown Castle during the third quarter valued at $30,000. Gables Capital Management Inc. increased its holdings in Crown Castle by 164.0% in the 4th 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 last quarter. Richardson Financial Services Inc. purchased a new stake in Crown Castle in the 4th quarter worth $30,000. Finally, Valley National Advisers Inc. boosted its holdings in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, April 19th. Bank of America reduced their price target on shares of Crown Castle from $120.00 to $105.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Argus lowered shares of Crown Castle from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Jefferies Financial Group dropped their price objective on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, April 18th. Finally, Scotiabank decreased their target price on shares of Crown Castle from $133.00 to $118.00 and set a “sector perform” rating on the stock in a research report on Thursday, April 18th. Eleven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $114.21.

Crown Castle Trading Up 1.5 %

Crown Castle stock traded up $1.48 during mid-day trading on Thursday, hitting $97.41. The company’s stock had a trading volume of 2,728,374 shares, compared to its average volume of 2,811,983. The company has a debt-to-equity ratio of 3.73, a quick ratio of 0.42 and a current ratio of 0.42. The company has a 50 day moving average of $98.31 and a 200-day moving average of $104.90. Crown Castle Inc. has a one year low of $84.72 and a one year high of $119.50. The stock has a market cap of $42.33 billion, a PE ratio of 30.38, a P/E/G ratio of 2.54 and a beta of 0.82.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 17th. The real estate investment trust reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.92). Crown Castle had a return on equity of 21.30% and a net margin of 20.32%. The company had revenue of $1.64 billion during the quarter, compared to the consensus estimate of $1.63 billion. During the same quarter in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, research analysts anticipate that Crown Castle Inc. will post 6.62 EPS for the current year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.43%. The ex-dividend date is Friday, June 14th. Crown Castle’s dividend payout ratio is presently 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.