Brown Brothers Harriman & Co. Has $329,000 Holdings in Crown Castle Inc. (NYSE:CCI)

Brown Brothers Harriman & Co. cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 16.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,363 shares of the real estate investment trust’s stock after selling 667 shares during the period. Brown Brothers Harriman & Co.’s holdings in Crown Castle were worth $329,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CCI. WINTON GROUP Ltd bought a new stake in shares of Crown Castle in the second quarter worth $4,147,000. Thompson Siegel & Walmsley LLC grew its stake in shares of Crown Castle by 322.5% in the second quarter. Thompson Siegel & Walmsley LLC now owns 301,359 shares of the real estate investment trust’s stock worth $29,443,000 after purchasing an additional 230,039 shares during the last quarter. Lyell Wealth Management LP grew its stake in shares of Crown Castle by 14.5% in the second quarter. Lyell Wealth Management LP now owns 37,598 shares of the real estate investment trust’s stock worth $3,673,000 after purchasing an additional 4,762 shares during the last quarter. Prosperity Consulting Group LLC grew its stake in shares of 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 purchasing an additional 95 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its stake in shares of Crown Castle by 52.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 127,739 shares of the real estate investment trust’s stock worth $12,480,000 after purchasing an additional 44,161 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE CCI opened at $117.78 on Thursday. The firm’s 50-day moving average price is $111.09 and its 200-day moving average price is $104.01. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $120.92. The firm has a market capitalization of $51.18 billion, a P/E ratio of 36.81 and a beta of 0.85. The company has a current ratio of 0.43, a quick ratio of 0.43 and a debt-to-equity ratio of 4.04.

Crown Castle (NYSE:CCI) last posted its earnings results on Wednesday, July 17th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Crown Castle had a net margin of 17.98% and a return on equity of 19.20%. The company had revenue of $1.63 billion for the quarter, compared to analyst estimates of $1.62 billion. During the same quarter in the prior year, the business posted $2.05 EPS. The firm’s revenue was down 12.9% compared to the same quarter last year. Equities research analysts anticipate that Crown Castle Inc. will post 6.64 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $1.565 dividend. The ex-dividend date is Friday, September 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.31%. Crown Castle’s dividend payout ratio is presently 195.63%.

Insider Buying and Selling

In related news, COO Michael Joseph Kavanagh sold 10,883 shares of the company’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $103.72, for a total value of $1,128,784.76. Following the sale, the chief operating officer now owns 75,127 shares in the company, valued at approximately $7,792,172.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on CCI shares. The Goldman Sachs Group started coverage on shares of Crown Castle in a research note on Monday, July 1st. They issued a “neutral” rating and a $104.00 price objective on the stock. Royal Bank of Canada upped their price target on shares of Crown Castle from $100.00 to $104.00 and gave the company a “sector perform” rating in a research report on Thursday, July 25th. Raymond James reaffirmed an “outperform” rating and set a $126.00 price target (up previously from $124.00) on shares of Crown Castle in a research report on Friday, June 14th. BMO Capital Markets upped their price target 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. Finally, TD Cowen upped their price target on shares of Crown Castle from $124.00 to $127.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Twelve equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Hold” and an average price target of $113.53.

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.