Nemes Rush Group LLC Trims Stake in Crown Castle Inc. (NYSE:CCI)

Nemes Rush Group LLC decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,880 shares of the real estate investment trust’s stock after selling 209 shares during the period. Nemes Rush Group LLC’s holdings in Crown Castle were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Ables Iannone Moore & Associates Inc. acquired a new stake in Crown Castle during the fourth quarter worth approximately $25,000. EntryPoint Capital LLC purchased a new stake in shares of Crown Castle in the first quarter valued at $27,000. Asset Dedication LLC increased its stake in Crown Castle by 159.0% in the second quarter. Asset Dedication LLC now owns 272 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 167 shares during the last quarter. Richardson Financial Services Inc. purchased a new position in Crown Castle during the fourth quarter worth about $30,000. Finally, Beacon Capital Management LLC boosted its stake in Crown Castle by 163.9% in the 1st quarter. Beacon Capital Management LLC now owns 285 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 177 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Crown Castle

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 sale, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.39% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock opened at $116.61 on Monday. The firm has a market capitalization of $50.68 billion, a PE ratio of 36.44 and a beta of 0.85. Crown Castle Inc. has a one year low of $84.72 and a one year high of $120.92. The stock’s 50 day moving average price is $112.78 and its 200 day moving average price is $104.17. 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 posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. The business 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% compared to the same quarter last year. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, sell-side analysts expect that Crown Castle Inc. will post 6.64 EPS for the current fiscal year.

Crown Castle Announces Dividend

The firm 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 dividend of $1.565 per share. The ex-dividend date is Friday, September 13th. This represents a $6.26 annualized dividend and a dividend yield of 5.37%. Crown Castle’s dividend payout ratio is presently 195.63%.

Analyst Ratings Changes

CCI has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research note on Monday, September 23rd. BMO Capital Markets upped their price target on shares of Crown Castle from $105.00 to $108.00 and gave the stock a “market perform” rating in a research report on Thursday, July 18th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a report on Thursday, July 25th. TD Cowen upped their price objective on Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Crown Castle from $103.00 to $105.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $115.40.

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.