Crown Castle Inc. $CCI Shares Acquired by GRS Advisors LLC

GRS Advisors LLC increased its position in shares of Crown Castle Inc. (NYSE:CCI) by 108.1% during the third quarter, Holdings Channel reports. The institutional investor owned 1,294,803 shares of the real estate investment trust’s stock after purchasing an additional 672,625 shares during the quarter. Crown Castle comprises 11.7% of GRS Advisors LLC’s holdings, making the stock its biggest position. GRS Advisors LLC’s holdings in Crown Castle were worth $124,936,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Foresight Group Ltd Liability Partnership lifted its position in shares of Crown Castle by 25.8% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after acquiring an additional 21,194 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Crown Castle by 15.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after purchasing an additional 9,552 shares during the period. Country Club Bank increased its position in shares of Crown Castle by 20.1% during the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock valued at $6,808,000 after purchasing an additional 11,851 shares during the period. Cooke & Bieler LP raised its stake in shares of Crown Castle by 6.1% in the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock valued at $233,413,000 after purchasing an additional 138,061 shares in the last quarter. Finally, National Pension Service lifted its position in Crown Castle by 3.5% in the third quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock worth $63,374,000 after purchasing an additional 21,986 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Price Performance

CCI stock opened at $87.44 on Friday. The business has a fifty day moving average price of $87.23 and a 200 day moving average price of $90.94. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76. The stock has a market capitalization of $38.13 billion, a price-to-earnings ratio of 86.57, a P/E/G ratio of 0.44 and a beta of 0.96.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $1.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio (DPR) is 420.79%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CCI. Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. UBS Group dropped their price objective on shares of Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. The Goldman Sachs Group decreased their target price on shares of Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Wells Fargo & Company lowered their target price on shares of Crown Castle from $105.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Royal Bank Of Canada dropped their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Monday, January 12th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $100.13.

Insider Transactions at Crown Castle

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total value of $401,481.00. Following the completion of the sale, the executive vice president owned 25,183 shares in the company, valued at approximately $2,174,300.22. This trade represents a 15.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert Sean Collins sold 3,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the transaction, the vice president directly owned 5,800 shares of the company’s stock, valued at approximately $507,442. This represents a 34.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.10% of the company’s stock.

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.