Crown Castle Inc. (NYSE:CCI) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 57.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 3,736 shares of the real estate investment trust’s stock after selling 5,139 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Crown Castle were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. CHICAGO TRUST Co NA increased its holdings in shares of Crown Castle by 3.0% during the 1st quarter. CHICAGO TRUST Co NA now owns 3,532 shares of the real estate investment trust’s stock valued at $368,000 after purchasing an additional 104 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Crown Castle by 18.9% during the 1st quarter. Harbour Investments Inc. now owns 672 shares of the real estate investment trust’s stock valued at $70,000 after purchasing an additional 107 shares in the last quarter. Abel Hall LLC increased its holdings in shares of Crown Castle by 1.8% during the 1st quarter. Abel Hall LLC now owns 6,393 shares of the real estate investment trust’s stock valued at $666,000 after purchasing an additional 115 shares in the last quarter. Beacon Capital Management LLC increased its holdings in shares of Crown Castle by 36.6% during the 1st quarter. Beacon Capital Management LLC now owns 448 shares of the real estate investment trust’s stock valued at $47,000 after purchasing an additional 120 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of Crown Castle by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 37,357 shares of the real estate investment trust’s stock valued at $3,894,000 after purchasing an additional 120 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 1.5%

Crown Castle stock opened at $104.58 on Monday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The firm has a market capitalization of $45.54 billion, a price-to-earnings ratio of -9.80, a PEG ratio of 0.79 and a beta of 0.89. The company has a fifty day simple moving average of $103.33 and a 200-day simple moving average of $99.90.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, July 23rd. The real estate investment trust reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.00 by $0.02. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a negative net margin of 85.54% and a negative return on equity of 619.62%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.62 earnings per share. On average, research analysts anticipate that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.1%. Crown Castle’s payout ratio is presently -39.83%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent research reports. Barclays lifted their target price on shares of Crown Castle from $117.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, July 29th. Scotiabank lifted their target price on shares of Crown Castle from $109.00 to $114.00 and gave the company a “sector perform” rating in a report on Friday, July 25th. Royal Bank Of Canada lifted their target price on shares of Crown Castle from $112.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday. UBS Group boosted their price target on shares of Crown Castle from $124.00 to $127.00 and gave the stock a “buy” rating in a report on Friday, July 25th. Finally, Citigroup boosted their price target on shares of Crown Castle from $108.00 to $124.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $116.24.

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.