Frank Rimerman Advisors LLC Trims Position in Crown Castle Inc. (NYSE:CCI)

Key Points

• Frank Rimerman Advisors LLC reduced its stake in Crown Castle Inc. by 57.9%, owning 3,736 shares valued at approximately $389,000 after selling 5,139 shares.
• Crown Castle announced a quarterly dividend of $1.0625 per share, with a dividend yield of 4.1%, to be paid on September 30th.
• The company's stock price is currently $104.58, down 1.5%, with a market capitalization of $45.54 billion and negative year-over-year revenue growth of 4.2%.

Frank Rimerman Advisors LLC lessened its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 57.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,736 shares of the real estate investment trust's stock after selling 5,139 shares during the period. Frank Rimerman Advisors LLC's holdings in Crown Castle were worth $389,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in CCI. CHICAGO TRUST Co NA increased its position in 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 during the period. Harbour Investments Inc. increased its position in 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 during the period. Abel Hall LLC increased its position in 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 during the period. Beacon Capital Management LLC increased its position in 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 during the period. Finally, Oregon Public Employees Retirement Fund increased its position in 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 during the period. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 1.5%

CCI stock opened at $104.58 on Monday. The firm has a 50 day moving average of $103.33 and a 200 day moving average of $99.90. The stock has a market capitalization of $45.54 billion, a PE ratio of -9.80, a price-to-earnings-growth ratio of 0.79 and a beta of 0.89. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

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

Crown Castle Dividend Announcement

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

Analyst Ratings Changes

A number of research analysts have commented on the stock. KeyCorp raised their target price on shares of Crown Castle from $122.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, July 24th. Wells Fargo & Company raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $105.00 to $125.00 in a research report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on shares of Crown Castle from $115.00 to $120.00 and gave the company a "neutral" rating in a research report on Thursday, July 24th. Bank of America began coverage on shares of Crown Castle in a research report on Monday, May 19th. They set a "buy" rating and a $115.00 target price on the stock. Finally, New Street Research raised shares of Crown Castle from a "hold" rating to a "strong-buy" rating in a research report on Thursday, May 1st. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $116.24.

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.

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