Crown Castle Inc. $CCI Shares Sold by Morgan Dempsey Capital Management LLC

Morgan Dempsey Capital Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,626 shares of the real estate investment trust’s stock after selling 9,060 shares during the quarter. Crown Castle accounts for about 2.3% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 24th largest position. Morgan Dempsey Capital Management LLC’s holdings in Crown Castle were worth $5,271,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new stake in Crown Castle in the second quarter worth about $26,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Crown Castle during the second quarter worth about $27,000. LRI Investments LLC acquired a new position in shares of Crown Castle during the third quarter valued at about $29,000. Cornerstone Planning Group LLC increased its holdings in shares of Crown Castle by 269.9% during the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock valued at $35,000 after acquiring an additional 278 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Crown Castle in the 3rd quarter valued at approximately $44,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research note on Thursday, February 5th. Wells Fargo & Company decreased their price target on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings raised shares of Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Finally, Jefferies Financial Group cut their target price on Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a research report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $100.13.

Insider Buying and Selling at Crown Castle

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the sale, the executive vice president owned 25,183 shares in the company, valued at $2,174,300.22. This represents a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the transaction, the vice president directly owned 5,800 shares of the company’s stock, valued at approximately $507,442. This trade represents a 34.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.10% of the stock is owned by corporate insiders.

Crown Castle Stock Up 0.0%

Shares of NYSE CCI opened at $87.50 on Tuesday. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The business’s 50 day moving average price is $87.21 and its 200 day moving average price is $90.73. The firm has a market cap of $38.16 billion, a P/E ratio of 86.64, a P/E/G ratio of 0.44 and a beta of 0.96.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s dividend payout ratio is 420.79%.

About Crown Castle

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.