Insider Selling: Crown Castle (NYSE:CCI) EVP Sells $401,481.00 in Stock

Crown Castle Inc. (NYSE:CCI) EVP Edward Adams, Jr. sold 4,650 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total value 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 sale was disclosed in a document filed with the SEC, which is accessible through this link.

Crown Castle Trading Up 3.6%

CCI stock opened at $89.54 on Monday. The company has a market cap of $39.05 billion, a PE ratio of 88.66, a price-to-earnings-growth ratio of 0.45 and a beta of 0.96. The stock has a 50-day moving average price of $87.05 and a two-hundred day moving average price of $91.70. Crown Castle Inc. has a 12-month low of $77.01 and a 12-month high of $115.76.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be given a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s dividend payout ratio is 420.79%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. HSBC dropped their price objective on shares of Crown Castle from $107.00 to $88.40 and set a “hold” rating for the company in a research report on Thursday, February 5th. Weiss Ratings upgraded Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a report on Tuesday, February 24th. The Goldman Sachs Group cut their price objective on Crown Castle from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. KeyCorp reduced their price objective on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a research note on Thursday, February 5th. Finally, Wall Street Zen lowered Crown Castle from a “hold” rating to a “sell” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $100.02.

Institutional Trading of Crown Castle

A number of hedge funds and other institutional investors have recently modified their holdings of CCI. Winnow Wealth LLC acquired a new position in Crown Castle in the second quarter worth $26,000. Twin Peaks Wealth Advisors LLC bought a new position in shares of Crown Castle in the second quarter valued at about $27,000. NewSquare Capital LLC lifted its position in Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after buying an additional 120 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in Crown Castle during the 3rd quarter worth about $29,000. Finally, LRI Investments LLC acquired a new stake in Crown Castle in the 3rd quarter valued at about $29,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

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.