NBC Securities Inc. Sells 1,090 Shares of Crown Castle Inc. (NYSE:CCI)

NBC Securities Inc. decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 20.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,297 shares of the real estate investment trust’s stock after selling 1,090 shares during the period. NBC Securities Inc.’s holdings in Crown Castle were worth $509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 1.2% in the first quarter. Vanguard Group Inc. now owns 56,609,569 shares of the real estate investment trust’s stock worth $5,990,991,000 after acquiring an additional 673,243 shares during the period. Legal & General Group Plc grew its holdings in shares of Crown Castle by 1.1% in the second quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock worth $603,518,000 after acquiring an additional 67,072 shares during the period. National Bank of Canada FI grew its holdings in shares of Crown Castle by 10.7% in the second quarter. National Bank of Canada FI now owns 4,035,561 shares of the real estate investment trust’s stock worth $387,333,000 after acquiring an additional 391,127 shares during the period. ClearBridge Investments Ltd lifted its position in Crown Castle by 19.4% during the first quarter. ClearBridge Investments Ltd now owns 2,632,855 shares of the real estate investment trust’s stock valued at $278,635,000 after purchasing an additional 428,597 shares in the last quarter. Finally, Cooke & Bieler LP lifted its position in Crown Castle by 95.8% during the second quarter. Cooke & Bieler LP now owns 2,578,932 shares of the real estate investment trust’s stock valued at $251,962,000 after purchasing an additional 1,261,536 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

In other Crown Castle news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction 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 sale, the chief operating officer now owns 75,127 shares in the company, valued at $7,792,172.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by company insiders.

Crown Castle Trading Down 3.4 %

CCI opened at $111.75 on Friday. The stock has a market cap of $48.56 billion, a price-to-earnings ratio of 40.93 and a beta of 0.85. The stock’s 50 day moving average price is $114.00 and its 200-day moving average price is $105.05. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. 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 announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The firm had revenue of $1.65 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.77 EPS. On average, equities analysts forecast that Crown Castle Inc. will post 6.65 EPS for the current year.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.60%. Crown Castle’s payout ratio is 229.30%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CCI shares. Bank of America lifted their target price on Crown Castle from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft boosted their price objective on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Barclays boosted their price objective on Crown Castle from $112.00 to $116.00 and gave the company an “equal weight” rating in a research report on Thursday, October 10th. UBS Group boosted their target price on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and an average target price of $115.29.

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.