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

Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins sold 1,500 shares of the firm’s 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 completion of the sale, the vice president directly owned 5,113 shares of the company’s stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $73.57 on Wednesday. Crown Castle Inc. has a one year low of $69.72 and a one year high of $104.64. The firm has a market capitalization of $31.30 billion, a P/E ratio of 37.35, a PEG ratio of 0.39 and a beta of 0.95. The company’s fifty day moving average is $80.64 and its two-hundred day moving average is $84.74.

Crown Castle Dividend Announcement

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 yield of 5.8%. The ex-dividend date is Tuesday, September 15th. Crown Castle’s dividend payout ratio is presently 215.74%.

Institutional Investors Weigh In On Crown Castle

A number of large investors have recently bought and sold shares of the stock. United Asset Strategies Inc. grew its stake in shares of Crown Castle by 2.5% in the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock worth $438,000 after buying an additional 120 shares in the last quarter. Binnacle Investments Inc increased its holdings in shares of Crown Castle by 10.9% in the 3rd quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 127 shares during the last quarter. Front Row Advisors LLC raised its position in shares of Crown Castle by 1.4% during the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 130 shares in the last quarter. Hilton Head Capital Partners LLC raised its position in shares of 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 valued at $31,000 after buying an additional 134 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Crown Castle by 10.2% in the 1st quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock valued at $121,000 after acquiring an additional 138 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CCI. 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. Citizens Jmp decreased their target price on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating on the stock in a research report on Friday, July 24th. The Goldman Sachs Group began coverage on Crown Castle in a research report on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target for the company. BMO Capital Markets cut their price target on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Finally, Citigroup reiterated a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. Two research 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.