Crown Castle (NYSE:CCI) EVP Edward Adams, Jr. Sells 4,650 Shares of Stock

Crown Castle Inc. (NYSE:CCI) EVP Edward Adams, Jr. sold 4,650 shares of the business’s stock in a transaction dated Wednesday, February 25th. The shares were 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 owned 25,183 shares in the company, valued at $2,174,300.22. The trade was a 15.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Crown Castle Price Performance

Shares of CCI opened at $89.54 on Friday. The firm has a 50-day simple moving average of $87.05 and a two-hundred day simple moving average of $91.85. The stock has a market cap of $39.05 billion, a PE ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. The ex-dividend date is Friday, March 13th. Crown Castle’s payout ratio is currently 420.79%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on CCI shares. KeyCorp lowered their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a report on Thursday, February 5th. Barclays cut their target price on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 17th. Citigroup decreased their price target on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Royal Bank Of Canada cut their price objective on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a research report on Monday, January 12th. Finally, BMO Capital Markets reduced their price objective on Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $100.02.

Institutional Trading of Crown Castle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. MV Capital Management Inc. acquired a new stake in Crown Castle during the 4th quarter worth $34,000. Kovitz Investment Group Partners LLC increased its position in shares of Crown Castle by 5.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 47,585 shares of the real estate investment trust’s stock worth $4,229,000 after purchasing an additional 2,576 shares in the last quarter. Invesco Ltd. increased its position in shares of Crown Castle by 12.8% during the fourth quarter. Invesco Ltd. now owns 7,260,583 shares of the real estate investment trust’s stock worth $645,248,000 after purchasing an additional 822,898 shares in the last quarter. EP Wealth Advisors LLC purchased a new stake in shares of Crown Castle in the 4th quarter valued at about $507,000. Finally, NewEdge Advisors LLC boosted its position in shares of Crown Castle by 5.7% in the 4th quarter. NewEdge Advisors LLC now owns 32,284 shares of the real estate investment trust’s stock valued at $2,869,000 after purchasing an additional 1,732 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

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.