Crown Castle (NYSE:CCI) VP Sells 1,500 Shares

Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Crown Castle Trading Down 2.7%

CCI traded down $2.02 on Monday, reaching $73.57. The company had a trading volume of 2,015,325 shares, compared to its average volume of 3,770,292. The company has a fifty day moving average of $81.32 and a 200-day moving average of $84.93. The company has a market capitalization of $32.11 billion, a P/E ratio of 37.35, a PEG ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a one year low of $69.72 and a one year high of $104.64.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s dividend payout ratio is currently 215.74%.

Institutional Investors Weigh In On Crown Castle

Several large investors have recently modified their holdings of CCI. United Asset Strategies Inc. boosted its holdings in shares of Crown Castle by 2.5% in the fourth quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 120 shares in the last quarter. Binnacle Investments Inc raised its holdings in Crown Castle by 10.9% during the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 127 shares in the last quarter. Front Row Advisors LLC raised its holdings in Crown Castle by 1.4% during the first quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock worth $757,000 after purchasing an additional 130 shares in the last quarter. Hilton Head Capital Partners LLC lifted its position in Crown Castle by 55.6% in the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares during the period. Finally, CENTRAL TRUST Co lifted its position in Crown Castle by 10.2% in the first quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock valued at $121,000 after purchasing an additional 138 shares during the period. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Crown Castle in a research note on Friday, May 22nd. Citigroup restated a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. BMO Capital Markets lowered their price target on Crown Castle from $100.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. dropped their price objective on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Company 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.