SG Americas Securities LLC Boosts Stake in Crown Castle Inc. $CCI

SG Americas Securities LLC increased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2,549.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 281,098 shares of the real estate investment trust’s stock after buying an additional 270,489 shares during the period. SG Americas Securities LLC’s holdings in Crown Castle were worth $24,981,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC acquired a new stake in Crown Castle in the second quarter valued at approximately $27,000. Wiser Advisor Group LLC purchased a new stake in shares of Crown Castle in the third quarter valued at approximately $29,000. LRI Investments LLC acquired a new position in shares of Crown Castle during the 3rd quarter worth approximately $29,000. Triumph Capital Management acquired a new position in shares of Crown Castle during the 3rd quarter worth approximately $31,000. Finally, KERR FINANCIAL PLANNING Corp purchased a new position in shares of Crown Castle during the 3rd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $77.88 on Friday. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The firm has a market capitalization of $33.96 billion, a PE ratio of 77.11, a P/E/G ratio of 0.39 and a beta of 0.96. The business’s 50 day moving average price is $86.49 and its 200-day moving average price is $89.95.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a yield of 5.5%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s payout ratio is 420.79%.

Insider Buying and Selling at Crown Castle

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

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CCI shares. Sanford C. Bernstein initiated coverage on shares of Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price target on the stock. Raymond James Financial decreased their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a report on Friday, January 23rd. New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. Weiss Ratings upgraded shares of Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a research report on Tuesday, February 24th. Finally, Scotiabank cut their target price on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and an average target price of $99.86.

Crown Castle Profile

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.