B. Riley Wealth Advisors Inc. Sells 9,641 Shares of Crown Castle Inc. (NYSE:CCI)

B. Riley Wealth Advisors Inc. cut its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 35.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,283 shares of the real estate investment trust's stock after selling 9,641 shares during the period. B. Riley Wealth Advisors Inc.'s holdings in Crown Castle were worth $2,015,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CCI. Van ECK Associates Corp increased its position in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust's stock valued at $17,476,000 after acquiring an additional 31,319 shares during the period. Fisher Asset Management LLC grew its stake in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock worth $603,592,000 after purchasing an additional 203,442 shares during the last quarter. Citizens Business Bank purchased a new position in Crown Castle during the 3rd quarter valued at about $620,000. Quest Partners LLC raised its position in Crown Castle by 3,111.6% during the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust's stock valued at $1,581,000 after purchasing an additional 12,913 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its holdings in Crown Castle by 7.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,059,300 shares of the real estate investment trust's stock worth $125,665,000 after buying an additional 77,135 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on CCI shares. Barclays upped their target price on Crown Castle from $116.00 to $117.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. JPMorgan Chase & Co. boosted their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a "neutral" rating in a research report on Monday, September 23rd. Jefferies Financial Group upped their target price on Crown Castle from $123.00 to $127.00 and gave the stock a "buy" rating in a report on Thursday, October 17th. Finally, TD Cowen dropped their price target on Crown Castle from $127.00 to $123.00 and set a "buy" rating on the stock in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $117.00.

Crown Castle Stock Down 1.4 %

Crown Castle stock traded down $1.38 during trading hours on Monday, hitting $95.73. The stock had a trading volume of 8,087,884 shares, compared to its average volume of 2,648,903. The stock's 50-day moving average price is $106.57 and its 200-day moving average price is $107.21. The stock has a market capitalization of $41.60 billion, a P/E ratio of 34.44 and a beta of 0.86. Crown Castle Inc. has a 12-month low of $92.48 and a 12-month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). Crown Castle had a return on equity of 20.98% and a net margin of 18.59%. The firm had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. During the same quarter in the previous year, the firm earned $1.77 earnings per share. Crown Castle's revenue was down .9% on a year-over-year basis. Equities research analysts anticipate that Crown Castle Inc. will post 6.66 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.54%. Crown Castle's payout ratio is currently 221.99%.

Crown Castle Company 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.