Cambridge Investment Research Advisors Inc. Sells 7,706 Shares of Crown Castle Inc. $CCI

Cambridge Investment Research Advisors Inc. trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 21.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,997 shares of the real estate investment trust’s stock after selling 7,706 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Crown Castle were worth $2,196,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in CCI. Vanguard Group Inc. raised its holdings in Crown Castle by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 69,769,393 shares of the real estate investment trust’s stock valued at $6,200,406,000 after acquiring an additional 386,733 shares in the last quarter. Cohen & Steers Inc. grew its holdings in shares of Crown Castle by 11.0% during the 4th quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock worth $3,536,214,000 after purchasing an additional 3,953,685 shares in the last quarter. State Street Corp raised its stake in Crown Castle by 2.4% in the fourth quarter. State Street Corp now owns 22,239,559 shares of the real estate investment trust’s stock valued at $1,976,430,000 after purchasing an additional 511,018 shares in the last quarter. Wellington Management Group LLP lifted its position in Crown Castle by 2.8% during the fourth quarter. Wellington Management Group LLP now owns 13,986,852 shares of the real estate investment trust’s stock worth $1,243,012,000 after purchasing an additional 380,419 shares during the period. Finally, Lazard Asset Management LLC grew its stake in Crown Castle by 15.7% during the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust’s stock worth $1,094,691,000 after buying an additional 1,828,065 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on CCI. Weiss Ratings reissued a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. 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. Barclays increased their price target on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. 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 report on Tuesday, July 28th. Finally, Raymond James Financial upped their target price on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.13.

Insider Buying and Selling at Crown Castle

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

Crown Castle Trading Up 2.4%

Shares of Crown Castle stock opened at $75.75 on Friday. The firm has a market capitalization of $32.23 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. The firm’s 50 day moving average is $79.98 and its 200 day moving average is $84.58. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $104.61.

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

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.