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

Nemes Rush Group LLC cut its stake in Crown Castle Inc. (NYSE:CCI) by 53.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 970 shares of the real estate investment trust’s stock after selling 1,119 shares during the period. Nemes Rush Group LLC’s holdings in Crown Castle were worth $88,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC boosted its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new position in Crown Castle during the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle in the 4th quarter worth approximately $53,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on CCI shares. JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price objective for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Citigroup increased their target price on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Moffett Nathanson reduced their price target on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Up 0.3 %

NYSE:CCI opened at $104.57 on Wednesday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50-day moving average price is $94.75 and its 200-day moving average price is $100.30. The company has a market capitalization of $45.53 billion, a PE ratio of 37.08 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

Crown Castle Company 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.