Neuberger Berman Group LLC Sells 37,181 Shares of CROWN CASTLE IN/SH SH (NYSE:CCI)

Neuberger Berman Group LLC cut its stake in shares of CROWN CASTLE IN/SH SH (NYSE:CCI) by 2.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,297,845 shares of the real estate investment trust’s stock after selling 37,181 shares during the period. Neuberger Berman Group LLC’s holdings in CROWN CASTLE IN/SH SH were worth $217,136,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Marshall Wace LLP bought a new stake in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth $118,000. Public Employees Retirement Association of Colorado raised its stake in shares of CROWN CASTLE IN/SH SH by 2.1% during the 1st quarter. Public Employees Retirement Association of Colorado now owns 78,359 shares of the real estate investment trust’s stock worth $11,315,000 after purchasing an additional 1,645 shares during the period. Truvestments Capital LLC bought a new stake in shares of CROWN CASTLE IN/SH SH during the 1st quarter worth $28,000. Oppenheimer Asset Management Inc. raised its stake in shares of CROWN CASTLE IN/SH SH by 11.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 50,302 shares of the real estate investment trust’s stock worth $7,263,000 after purchasing an additional 5,122 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of CROWN CASTLE IN/SH SH by 9.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,237 shares of the real estate investment trust’s stock worth $3,355,000 after purchasing an additional 1,958 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.

A number of equities research analysts have recently commented on the company. Raymond James reiterated a “hold” rating on shares of CROWN CASTLE IN/SH SH in a research note on Thursday, August 6th. Wells Fargo & Company lifted their price objective on CROWN CASTLE IN/SH SH from $170.00 to $175.00 and gave the stock an “equal weight” rating in a report on Wednesday. UBS Group lifted their price objective on CROWN CASTLE IN/SH SH from $150.00 to $173.00 and gave the stock a “neutral” rating in a report on Friday, July 31st. Oppenheimer raised CROWN CASTLE IN/SH SH from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a report on Friday, May 22nd. Finally, Barclays began coverage on CROWN CASTLE IN/SH SH in a report on Wednesday, July 15th. They issued an “overweight” rating and a $197.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $172.30.

In other news, COO James D. Young sold 6,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $163.10, for a total transaction of $978,600.00. Following the completion of the sale, the chief operating officer now owns 192,679 shares in the company, valued at approximately $31,425,944.90. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 2,000 shares of CROWN CASTLE IN/SH SH stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $164.19, for a total value of $328,380.00. Following the sale, the vice president now owns 2,634 shares of the company’s stock, valued at approximately $432,476.46. The disclosure for this sale can be found here. Company insiders own 0.47% of the company’s stock.

CCI stock traded up $3.19 during mid-day trading on Wednesday, reaching $166.65. 81,608 shares of the company traded hands, compared to its average volume of 1,537,965. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.75 and a quick ratio of 1.75. The company has a market capitalization of $68.60 billion, a P/E ratio of 93.02, a P/E/G ratio of 1.33 and a beta of 0.32. CROWN CASTLE IN/SH SH has a 52-week low of $114.18 and a 52-week high of $180.00. The company has a fifty day moving average price of $163.89 and a 200-day moving average price of $160.25.

CROWN CASTLE IN/SH SH (NYSE:CCI) last issued its quarterly earnings results on Wednesday, July 29th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.09). The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.44 billion. CROWN CASTLE IN/SH SH had a net margin of 14.90% and a return on equity of 8.29%. The business’s revenue was down 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 EPS. As a group, analysts forecast that CROWN CASTLE IN/SH SH will post 5.72 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.88%. CROWN CASTLE IN/SH SH’s dividend payout ratio (DPR) is presently 84.36%.

CROWN CASTLE IN/SH SH Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 70,000 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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Institutional Ownership by Quarter for CROWN CASTLE IN/SH SH (NYSE:CCI)

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