SG Americas Securities LLC Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

SG Americas Securities LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 90.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,249 shares of the real estate investment trust’s stock after selling 47,982 shares during the period. SG Americas Securities LLC’s holdings in Crown Castle were worth $623,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the first quarter worth $27,000. Richardson Financial Services Inc. purchased a new stake in shares of Crown Castle in the fourth quarter worth $30,000. Asset Dedication LLC grew its stake in shares of Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 167 shares during the last quarter. Beacon Capital Management LLC grew its stake in shares of Crown Castle by 163.9% in the first quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 177 shares during the last quarter. Finally, New Millennium Group LLC purchased a new stake in shares of Crown Castle in the second quarter worth $34,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the firm’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 completion of the transaction, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.39% of the stock is currently owned by company insiders.

Crown Castle Stock Up 1.2 %

CCI stock opened at $112.11 on Tuesday. Crown Castle Inc. has a fifty-two week low of $84.72 and a fifty-two week high of $120.92. The business’s 50-day moving average is $113.86 and its two-hundred day moving average is $104.86. The company has a debt-to-equity ratio of 4.04, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market cap of $48.72 billion, a price-to-earnings ratio of 41.07 and a beta of 0.85.

Crown Castle (NYSE:CCI) last posted its quarterly earnings data on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping the consensus estimate of $0.54 by $0.04. Crown Castle had a return on equity of 19.20% and a net margin of 17.98%. The firm had revenue of $1.63 billion for the quarter, compared to the consensus estimate of $1.62 billion. During the same quarter last year, the company earned $2.05 earnings per share. The business’s revenue for the quarter was down 12.9% compared to the same quarter last year. As a group, analysts forecast that Crown Castle Inc. will post 6.64 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.58%. The ex-dividend date of this dividend was Friday, September 13th. Crown Castle’s dividend payout ratio is currently 229.30%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Bank of America increased their target price on Crown Castle from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. TD Cowen upped their price target on Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their price target on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. upped their price target on Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a report on Monday, September 23rd. Finally, Barclays upped their price target on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a report on Thursday, October 10th. Eleven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Hold” and a consensus target price of $115.67.

About Crown Castle

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.