Nemes Rush Group LLC Sells 1,119 Shares of Crown Castle Inc. (NYSE:CCI)

Nemes Rush Group LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 53.6% in the fourth quarter, Holdings Channel reports. The firm owned 970 shares of the real estate investment trust’s stock after selling 1,119 shares during the quarter. Nemes Rush Group LLC’s holdings in Crown Castle were worth $88,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC lifted its stake in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at about $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle in the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE:CCI opened at $104.57 on Wednesday. The business’s 50-day simple moving average is $94.75 and its two-hundred day simple moving average is $100.30. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $45.53 billion, a PE ratio of 37.08 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have commented on CCI. JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Friday, March 14th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research report on Tuesday, March 25th. Barclays upped their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. Finally, Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle 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.