Crown Castle (NYSE:CCI) VP Sells $113,835.00 in Stock

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

Crown Castle Stock Performance

Crown Castle stock opened at $73.89 on Thursday. Crown Castle Inc. has a fifty-two week low of $69.72 and a fifty-two week high of $104.61. The firm has a 50 day moving average price of $80.34 and a 200 day moving average price of $84.66. The company has a market capitalization of $31.44 billion, a PE ratio of 37.51, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95.

Crown Castle Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.8%. Crown Castle’s dividend payout ratio (DPR) is presently 215.74%.

Institutional Investors Weigh In On Crown Castle

Several institutional investors and hedge funds have recently made changes to their positions in CCI. United Asset Strategies Inc. lifted its stake in shares of Crown Castle by 2.5% during 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 buying an additional 120 shares during the period. Binnacle Investments Inc grew its position 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 valued at $125,000 after acquiring an additional 127 shares during the period. Front Row Advisors LLC grew its holdings in shares of Crown Castle by 1.4% during the 1st 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 during the period. Hilton Head Capital Partners LLC increased its position in shares of 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 worth $31,000 after acquiring an additional 134 shares in the last quarter. Finally, CENTRAL TRUST Co increased its holdings in Crown Castle by 10.2% in the 1st 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 in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CCI shares. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Citizens Jmp dropped their price objective on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a report on Friday, July 24th. The Goldman Sachs Group assumed coverage on shares of Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target for the company. KeyCorp upped their price objective on Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Finally, TD Cowen cut their price objective on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus target price 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.