Pacer Advisors Inc. Sells 69,799 Shares of Crown Castle Inc. (NYSE:CCI)

Pacer Advisors Inc. lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 7.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 813,786 shares of the real estate investment trust’s stock after selling 69,799 shares during the period. Pacer Advisors Inc. owned approximately 0.19% of Crown Castle worth $92,723,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Occidental Asset Management LLC increased its holdings in Crown Castle by 11.0% during the 2nd quarter. Occidental Asset Management LLC now owns 9,108 shares of the real estate investment trust’s stock worth $1,038,000 after acquiring an additional 899 shares during the period. Capital Investment Advisors LLC grew its stake in Crown Castle by 5.3% in the 2nd quarter. Capital Investment Advisors LLC now owns 72,987 shares of the real estate investment trust’s stock worth $8,316,000 after buying an additional 3,680 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Crown Castle by 4.2% in the 2nd quarter. Brookstone Capital Management now owns 4,164 shares of the real estate investment trust’s stock worth $481,000 after buying an additional 166 shares during the last quarter. Bard Financial Services Inc. increased its stake in Crown Castle by 34.9% in the second quarter. Bard Financial Services Inc. now owns 4,635 shares of the real estate investment trust’s stock valued at $528,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Beech Hill Advisors Inc. increased its position in shares of Crown Castle by 3.8% during the 2nd quarter. Beech Hill Advisors Inc. now owns 6,065 shares of the real estate investment trust’s stock valued at $691,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 90.27% of the company’s stock.

Crown Castle Stock Down 0.7 %

Crown Castle stock traded down $0.72 on Tuesday, hitting $96.81. 499,657 shares of the stock traded hands, compared to its average volume of 2,508,793. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 3.07. The firm has a market cap of $41.98 billion, a P/E ratio of 24.61 and a beta of 0.64. The business’s fifty day simple moving average is $104.55 and its 200 day simple moving average is $115.50. Crown Castle Inc. has a 1 year low of $95.73 and a 1 year high of $164.23.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Thursday, July 20th. The real estate investment trust reported $1.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.79 by ($0.74). The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Crown Castle had a return on equity of 23.20% and a net margin of 23.85%. Crown Castle’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 EPS. As a group, sell-side analysts forecast that Crown Castle Inc. will post 7.13 earnings per share for the current year.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.47%. The ex-dividend date of this dividend is Thursday, September 14th. Crown Castle’s dividend payout ratio is presently 158.88%.

Analyst Ratings Changes

Several research firms have issued reports on CCI. Raymond James cut their price target on shares of Crown Castle from $128.00 to $126.00 and set an “outperform” rating for the company in a research report on Tuesday, August 22nd. Royal Bank of Canada lowered their price objective on Crown Castle from $144.00 to $125.00 and set an “outperform” rating for the company in a research report on Monday, July 24th. Barclays reduced their target price on Crown Castle from $137.00 to $116.00 and set an “equal weight” rating on the stock in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Crown Castle in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Citigroup cut their price target on shares of Crown Castle from $162.00 to $138.00 in a report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.56.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 85,000 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.