Bryn Mawr Trust Advisors LLC Makes New Investment in Crown Castle Inc. $CCI

Bryn Mawr Trust Advisors LLC purchased a new position in Crown Castle Inc. (NYSE:CCI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,273 shares of the real estate investment trust’s stock, valued at approximately $627,000.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in Crown Castle during the fourth quarter worth $594,670,000. Lazard Asset Management LLC boosted its position in Crown Castle by 124.2% during the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock valued at $1,034,013,000 after acquiring an additional 6,445,237 shares during the last quarter. Cohen & Steers Inc. grew its holdings in 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 acquiring an additional 3,953,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Crown Castle by 591.8% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock worth $431,418,000 after acquiring an additional 3,824,778 shares during the period. Finally, Principal Financial Group Inc. raised its position in shares of Crown Castle by 422.5% in the 4th quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock worth $318,258,000 after acquiring an additional 2,895,756 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group dropped their price objective 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. Wolfe Research cut Crown Castle from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, May 20th. Royal Bank Of Canada lowered their target price on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, July 23rd. TD Cowen dropped their price target on Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their price target on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Insiders Place Their Bets

In related news, VP Robert Sean Collins sold 1,500 shares of the company’s stock in a transaction that occurred on 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 represents a 22.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.09% of the company’s stock.

Crown Castle Trading Up 0.2%

Shares of NYSE CCI opened at $75.91 on Friday. The firm has a market capitalization of $32.30 billion, a P/E ratio of 38.53, a P/E/G ratio of 0.40 and a beta of 0.95. The firm’s 50-day moving average price is $79.61 and its 200-day moving average price is $84.52. Crown Castle Inc. has a 1-year low of $69.72 and a 1-year high of $104.61.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a 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.