Liberty Mutual Group Asset Management Inc. Has $2.71 Million Stake in Crown Castle Inc. (NYSE:CCI)

Liberty Mutual Group Asset Management Inc. lowered its stake in Crown Castle Inc. (NYSE:CCI) by 8.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,773 shares of the real estate investment trust’s stock after selling 2,609 shares during the quarter. Liberty Mutual Group Asset Management Inc.’s holdings in Crown Castle were worth $2,713,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Prosperity Consulting Group LLC boosted its position in Crown Castle by 4.4% in the second quarter. Prosperity Consulting Group LLC now owns 2,262 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 95 shares in the last quarter. Granite Investment Partners LLC boosted its holdings in shares of Crown Castle by 0.5% during the 2nd quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock valued at $1,899,000 after acquiring an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Crown Castle by 12.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock worth $101,000 after acquiring an additional 108 shares during the last quarter. Gilbert & Cook Inc. increased its holdings in Crown Castle by 3.7% in the 4th quarter. Gilbert & Cook Inc. now owns 3,083 shares of the real estate investment trust’s stock worth $355,000 after purchasing an additional 110 shares in the last quarter. Finally, HM Payson & Co. raised its position in Crown Castle by 5.3% in the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after purchasing an additional 114 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of CCI opened at $114.78 on Friday. The firm has a market cap of $49.88 billion, a PE ratio of 35.87 and a beta of 0.85. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $120.92. The business’s 50 day moving average price is $112.54 and its two-hundred day moving average price is $104.23. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43.

Crown Castle (NYSE:CCI) last issued its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.04. The business had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. Crown Castle’s revenue was down 12.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.05 earnings per share. On average, equities analysts anticipate that Crown Castle Inc. will post 6.64 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.45%. Crown Castle’s dividend payout ratio is presently 195.63%.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the stock in a transaction that occurred 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 owns 75,127 shares in the company, valued at $7,792,172.44. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CCI. Bank of America boosted their price target on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. The Goldman Sachs Group boosted their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada raised their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research note on Thursday, July 25th. TD Cowen boosted their price objective on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Raymond James reaffirmed an “outperform” rating and set a $126.00 target price (up from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. Twelve investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $115.40.

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.