Crown Castle Inc. (NYSE:CCI) Shares Sold by First Hawaiian Bank

First Hawaiian Bank reduced its stake in Crown Castle Inc. (NYSE:CCI) by 48.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 5,714 shares of the real estate investment trust’s stock after selling 5,443 shares during the period. First Hawaiian Bank’s holdings in Crown Castle were worth $558,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Ables Iannone Moore & Associates Inc. purchased a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. Rational Advisors LLC acquired a new stake in shares of Crown Castle in the first quarter valued at $27,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle during the 1st quarter worth $27,000. Gables Capital Management Inc. increased its holdings in shares of 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. Finally, Richardson Financial Services Inc. purchased a new position in shares of Crown Castle in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insider Transactions at Crown Castle

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction that occurred on Tuesday, July 23rd. The stock was sold at an average price of $103.72, for a total transaction of $1,128,784.76. Following the transaction, the chief operating officer now directly owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on CCI shares. Raymond James reiterated 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. Wells Fargo & Company cut 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. Jefferies Financial Group dropped their target price on shares of Crown Castle from $126.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Bank of America upped their price target on shares of Crown Castle from $105.00 to $110.00 and gave the stock a “neutral” rating in a research report on Thursday, July 18th. Finally, Royal Bank of Canada upped their price objective on shares of Crown Castle from $100.00 to $104.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Twelve investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Crown Castle currently has an average rating of “Hold” and an average target price of $113.20.

Crown Castle Price Performance

Shares of CCI stock traded down $4.39 during trading hours on Monday, reaching $110.82. The company’s stock had a trading volume of 3,694,841 shares, compared to its average volume of 2,763,864. The company has a quick ratio of 0.42, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $119.50. The company has a market capitalization of $48.16 billion, a price-to-earnings ratio of 35.53 and a beta of 0.83. The firm’s 50 day simple moving average is $101.05 and its 200-day simple moving average is $102.72.

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, topping analysts’ consensus estimates of $0.54 by $0.04. The firm 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 for the quarter was down 12.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.05 earnings per share. Sell-side analysts forecast that Crown Castle Inc. will post 6.63 earnings per share for the current year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $6.26 annualized dividend and a yield of 5.65%. Crown Castle’s payout ratio 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.