Nisa Investment Advisors LLC Sells 34,670 Shares of Crown Castle Inc. $CCI

Nisa Investment Advisors LLC lowered its position in Crown Castle Inc. (NYSE:CCI) by 33.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 70,246 shares of the real estate investment trust’s stock after selling 34,670 shares during the period. Nisa Investment Advisors LLC’s holdings in Crown Castle were worth $6,243,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC lifted its holdings in Crown Castle by 3,051.5% in the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock valued at $562,221,000 after buying an additional 5,299,155 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Crown Castle by 591.8% during the third 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 valued at $431,418,000 after acquiring an additional 3,824,778 shares during the last quarter. Invesco Ltd. grew its holdings in Crown Castle by 33.2% during the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock worth $621,172,000 after acquiring an additional 1,605,291 shares during the period. ANTIPODES PARTNERS Ltd bought a new position in shares of Crown Castle in the 3rd quarter worth about $121,726,000. Finally, Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 42.3% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,931,258 shares of the real estate investment trust’s stock worth $379,327,000 after acquiring an additional 1,168,132 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the transaction, the vice president owned 5,800 shares in the company, valued at approximately $507,442. This represents a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction on 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 directly owned 25,183 shares in the company, valued at $2,174,300.22. This trade represents a 15.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on CCI. KeyCorp cut their target price on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research report on Thursday, February 5th. New Street Research downgraded Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 5th. Weiss Ratings upgraded Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. Raymond James Financial reduced their price objective on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research report on Friday, January 23rd. Finally, Sanford C. Bernstein began coverage on shares of Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.34.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $84.73 on Friday. Crown Castle Inc. has a one year low of $75.96 and a one year high of $115.76. The firm has a market capitalization of $36.95 billion, a price-to-earnings ratio of 83.89, a PEG ratio of 0.41 and a beta of 0.94. The business has a 50-day simple moving average of $85.75 and a 200 day simple moving average of $89.48.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Friday, March 13th. Crown Castle’s dividend payout ratio is presently 420.79%.

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.