Crown Castle (NYSE:CCI) VP Sells $262,470.00 in Stock

Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins sold 3,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $87.49, for a total value 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. The trade was a 34.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Crown Castle Trading Up 3.6%

CCI stock traded up $3.14 during trading on Friday, hitting $89.54. The company had a trading volume of 6,837,769 shares, compared to its average volume of 3,648,866. The business has a 50 day moving average of $86.98 and a 200 day moving average of $91.95. The firm has a market capitalization of $39.05 billion, a price-to-earnings ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96. Crown Castle Inc. has a fifty-two week low of $77.01 and a fifty-two week high of $115.76.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a $1.0625 dividend. The ex-dividend date is Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.7%. Crown Castle’s dividend payout ratio (DPR) is 420.79%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. 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 research report on Monday, January 5th. The Goldman Sachs Group cut their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Thursday, February 5th. Scotiabank dropped their price target on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 5th. Barclays cut their price target on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a report on Tuesday, February 17th. Finally, Jefferies Financial Group dropped their target price on shares of Crown Castle from $90.00 to $84.00 and set a “buy” rating on the stock in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $100.02.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Winnow Wealth LLC acquired a new position in Crown Castle during the 2nd quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC raised its position in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after buying an additional 120 shares during the last quarter. Wiser Advisor Group LLC bought a new position in Crown Castle during the 3rd quarter valued at $29,000. Finally, Creative Financial Designs Inc. ADV boosted its holdings in Crown Castle by 47.8% during the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 98 shares during the last quarter. Institutional investors own 90.77% 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.