Crown Castle (NYSE:CCI) VP Robert Sean Collins Sells 1,500 Shares

Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction that occurred 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 completion of the sale, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% 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 Down 2.7%

CCI stock traded down $2.02 on Monday, reaching $73.57. 2,015,325 shares of the company’s stock were exchanged, compared to its average volume of 3,770,292. The stock has a fifty day moving average of $81.32 and a 200-day moving average of $84.93. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.64. The firm has a market cap of $32.11 billion, a PE ratio of 37.35, a P/E/G ratio of 0.40 and a beta of 0.95.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.8%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s payout ratio is presently 215.74%.

Hedge Funds Weigh In On Crown Castle

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wiser Advisor Group LLC acquired a new stake in Crown Castle during the 3rd quarter valued at $29,000. Triumph Capital Management purchased a new stake in shares of Crown Castle in the third quarter valued at $31,000. Hilton Head Capital Partners LLC boosted its stake in shares of Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 134 shares during the last quarter. Salomon & Ludwin LLC increased its position in Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares in the last quarter. Finally, MV Capital Management Inc. purchased a new stake in Crown Castle during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCI. Citizens Jmp cut 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. KeyCorp upped their target price on shares of Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Barclays lifted their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group decreased their price target on Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $95.13.

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.