Milford Funds Ltd. Decreases Holdings in Crown Castle Inc. $CCI

Milford Funds Ltd. trimmed its position in Crown Castle Inc. (NYSE:CCI) by 33.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,213,248 shares of the real estate investment trust’s stock after selling 596,494 shares during the period. Crown Castle makes up approximately 1.5% of Milford Funds Ltd.’s holdings, making the stock its 20th biggest holding. Milford Funds Ltd. owned 0.28% of Crown Castle worth $91,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CCI. Wiser Advisor Group LLC acquired a new position in shares of Crown Castle during the third quarter worth $29,000. Hilton Head Capital Partners LLC grew its stake in Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 134 shares during the last quarter. Triumph Capital Management purchased a new position in Crown Castle during the 3rd quarter worth $31,000. Global Assets Advisory LLC acquired a new position in Crown Castle during the 1st quarter valued at about $32,000. Finally, Salomon & Ludwin LLC raised its stake in Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 215 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the sale, the vice president owned 5,113 shares in the company, valued at $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.09% of the stock is owned by company insiders.

Crown Castle Trading Up 0.2%

Shares of NYSE:CCI opened at $75.91 on Friday. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.61. The company’s 50 day moving average is $79.61 and its 200 day moving average is $84.52. The company has a market cap of $32.30 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle Dividend Announcement

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 issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s dividend payout ratio is 215.74%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of research analyst reports. KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. TD Cowen dropped their target price on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research report on Thursday, July 23rd. Jefferies Financial Group cut their price target on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Citizens Jmp decreased their price target on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a report on Friday, July 24th. Finally, Truist Financial lowered their price objective on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Two investment 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’s stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and an average target price of $95.13.

Crown Castle 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.