First Hawaiian Bank Sells 5,443 Shares of Crown Castle Inc. (NYSE:CCI)

First Hawaiian Bank trimmed its position in Crown Castle Inc. (NYSE:CCI) by 48.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Crown Castle during the fourth quarter worth $581,503,000. M&G Plc acquired a new position in Crown Castle during the first quarter valued at approximately $221,573,000. Mizuho Markets Americas LLC bought a new position in shares of Crown Castle in the fourth quarter valued at $201,582,000. Balyasny Asset Management L.P. increased its stake in shares of Crown Castle by 18,200.7% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,651,456 shares of the real estate investment trust’s stock worth $190,231,000 after purchasing an additional 1,642,432 shares during the last quarter. Finally, Capital International Investors increased its holdings in shares of Crown Castle by 68,262.1% during the 1st quarter. Capital International Investors now owns 1,240,088 shares of the real estate investment trust’s stock worth $131,239,000 after acquiring an additional 1,238,274 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Barclays upped their price target on shares of Crown Castle from $111.00 to $112.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 23rd. 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 note on Friday, June 14th. Royal Bank of Canada boosted their price target on Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. Wells Fargo & Company dropped their target price on Crown Castle from $115.00 to $100.00 and set an “equal weight” rating for the company in a report on Friday, April 19th. Finally, Scotiabank lowered their price target 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. Twelve research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $113.20.

Crown Castle Trading Down 3.8 %

Shares of CCI traded down $4.39 during trading hours on Monday, reaching $110.82. 3,694,841 shares of the company traded hands, compared to its average volume of 2,763,864. 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 company’s fifty day moving average price is $101.05 and its two-hundred day moving average price is $102.72. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $119.50. 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 (NYSE:CCI) last posted its quarterly earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.04. The firm had revenue of $1.63 billion for 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.05 earnings per share. Equities research analysts predict that Crown Castle Inc. will post 6.63 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.65%. The ex-dividend date of this dividend was Friday, June 14th. Crown Castle’s dividend payout ratio is currently 195.63%.

Insiders Place Their Bets

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

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.