5,810 Shares in Crown Castle Inc. $CCI Purchased by Inceptionr LLC

Inceptionr LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, HoldingsChannel reports. The fund bought 5,810 shares of the real estate investment trust’s stock, valued at approximately $561,000.

Several other large investors have also recently made changes to their positions in CCI. Winnow Wealth LLC purchased a new stake in Crown Castle in the second quarter valued at approximately $26,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Crown Castle in the second quarter valued at approximately $27,000. LRI Investments LLC purchased a new stake in Crown Castle during the 3rd quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its holdings in Crown Castle by 269.9% during the 3rd quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock worth $35,000 after buying an additional 278 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new position in Crown Castle in the 3rd quarter valued at approximately $44,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent research reports. New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 price objective on the stock. in a research report on Monday, January 5th. Wells Fargo & Company cut their target price on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Barclays lowered their price target on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, February 17th. Jefferies Financial Group lowered their target price on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating for the company in a research note on Wednesday, February 4th. Finally, BMO Capital Markets decreased their target price on Crown Castle from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $100.13.

Insider Activity

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president directly owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of the business’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 sale, 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. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $88.52 on Wednesday. The company has a market cap of $38.60 billion, a P/E ratio of 87.64, a PEG ratio of 0.45 and a beta of 0.96. Crown Castle Inc. has a one year low of $77.01 and a one year high of $115.76. The firm has a fifty day moving average of $87.34 and a two-hundred day moving average of $91.11.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, March 13th. Crown Castle’s 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.