Insider Selling: Crown Castle (NYSE:CCI) VP Sells $222,175.00 in Stock

Crown Castle Inc. (NYSE:CCI) VP Robert Collins sold 2,500 shares of Crown Castle stock in a transaction that occurred on Friday, November 6th. The shares were sold at an average price of $88.87, for a total value of $222,175.00. Following the completion of the sale, the vice president owned 2,613 shares in the company, valued at approximately $232,217.31. This trade represents a 48.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Crown Castle Stock Performance

NYSE:CCI opened at $89.64 on Friday. The stock has a fifty day moving average price of $78.17 and a two-hundred day moving average price of $82.31. The stock has a market capitalization of $38.14 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 0.78 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $65.32 and a 1 year high of $95.07.

Crown Castle (NYSE:CCI) last released its earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.69 by ($0.02). The business had revenue of $995.00 million during the quarter, compared to analyst estimates of $1.01 billion. Crown Castle had a net margin of 20.12% and a negative return on equity of 42.11%. Crown Castle’s revenue was down 7.2% compared to the same quarter last year. During the same period last year, the business posted $1.12 EPS. On average, analysts predict that Crown Castle Inc. will post 4.42 EPS for the current year.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a $1.0625 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is 223.68%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. TD Cowen boosted their price objective on shares of Crown Castle from $92.00 to $98.00 and gave the stock a “buy” rating in a report on Thursday, October 22nd. Barclays lifted their price target on shares of Crown Castle from $84.00 to $86.00 and gave the company an “overweight” rating in a research report on Wednesday, September 30th. Royal Bank Of Canada reduced their price objective on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. Morgan Stanley set a $85.00 price target on Crown Castle in a research note on Monday, September 21st. Finally, Citizens Jmp decreased their price objective on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research report on Friday, July 24th. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Pingora Partners LLC acquired a new position in Crown Castle in the 2nd quarter valued at about $30,000. Global Assets Advisory LLC acquired a new stake in Crown Castle during the first quarter worth approximately $32,000. Anchor Investment Management LLC grew its stake in Crown Castle by 242.8% in the 2nd quarter. Anchor Investment Management LLC now owns 473 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 335 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its stake in Crown Castle by 18,933.3% in the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 571 shares of the real estate investment trust’s stock worth $38,000 after acquiring an additional 568 shares during the period. Finally, J.Safra Asset Management Corp purchased a new stake in Crown Castle in the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

About Crown Castle

Crown Castle Inc. (NYSE: CCI) owns and operates wireless communications infrastructure in the United States. Its portfolio includes cell towers and small-cell networks that help wireless carriers expand coverage and capacity. The company leases space on its infrastructure to wireless carriers and other customers, allowing multiple users to deploy communications equipment on shared sites. Crown Castle has also operated fiber infrastructure and related services, which support small-cell networks and other connectivity needs.