Mather Group LLC. Sells 231 Shares of Crown Castle Inc. (NYSE:CCI)

Mather Group LLC. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.0% in the third quarter, Holdings Channel reports. The institutional investor owned 1,131 shares of the real estate investment trust’s stock after selling 231 shares during the quarter. Mather Group LLC.’s holdings in Crown Castle were worth $134,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pathway Financial Advisers LLC raised its position in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares during the last quarter. Prosperity Consulting Group LLC raised its holdings 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 worth $221,000 after buying an additional 95 shares during the last quarter. Granite Investment Partners LLC lifted its stake in shares of Crown Castle by 0.5% in the second quarter. Granite Investment Partners LLC now owns 19,439 shares of the real estate investment trust’s stock worth $1,899,000 after buying an additional 100 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Crown Castle by 12.8% during the first quarter. EverSource Wealth Advisors LLC now owns 950 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 108 shares during the last quarter. Finally, HM Payson & Co. increased its position in shares of Crown Castle by 5.3% during the first quarter. HM Payson & Co. now owns 2,259 shares of the real estate investment trust’s stock valued at $239,000 after acquiring an additional 114 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 0.8 %

CCI stock opened at $110.81 on Friday. The business’s 50-day moving average price is $113.84 and its 200-day moving average price is $104.82. The stock has a market cap of $48.15 billion, a P/E ratio of 40.59 and a beta of 0.85. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 4.04. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $120.92.

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

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a yield of 5.65%. Crown Castle’s dividend payout ratio is presently 229.30%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Royal Bank of Canada increased their target price 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. Bank of America lifted their price objective 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 upped their target price on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Crown Castle from $103.00 to $105.00 and gave the stock a “hold” rating in a research note on Tuesday, July 23rd. Finally, BMO Capital Markets increased their price objective on shares of Crown Castle from $105.00 to $108.00 and gave the company a “market perform” rating in a research report on Thursday, July 18th. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $115.67.

Insider Activity

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of Crown Castle 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 sale, the chief operating officer now owns 75,127 shares of the company’s stock, valued at approximately $7,792,172.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company’s stock.

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.