Crown Castle Inc. $CCI Stock Position Lifted by GRS Advisors LLC

GRS Advisors LLC raised its stake in Crown Castle Inc. (NYSE:CCI) by 108.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,294,803 shares of the real estate investment trust’s stock after buying an additional 672,625 shares during the quarter. Crown Castle accounts for about 11.7% of GRS Advisors LLC’s holdings, making the stock its biggest position. GRS Advisors LLC owned approximately 0.30% of Crown Castle worth $124,936,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Crown Castle in the second quarter worth $629,431,000. Lazard Asset Management LLC raised its holdings in shares of Crown Castle by 3,051.5% during the second quarter. Lazard Asset Management LLC now owns 5,472,810 shares of the real estate investment trust’s stock worth $562,221,000 after acquiring an additional 5,299,155 shares in the last quarter. Invesco Ltd. boosted its position in Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after purchasing an additional 1,605,291 shares during the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in Crown Castle during the third quarter valued at $121,726,000. Finally, JPMorgan Chase & Co. grew its stake in Crown Castle by 33.9% in the second quarter. JPMorgan Chase & Co. now owns 3,657,030 shares of the real estate investment trust’s stock valued at $375,697,000 after purchasing an additional 926,721 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Crown Castle stock opened at $87.44 on Friday. Crown Castle Inc. has a 52 week low of $77.01 and a 52 week high of $115.76. The firm has a market capitalization of $38.13 billion, a PE ratio of 86.57, a PEG ratio of 0.44 and a beta of 0.96. The business’s 50-day simple moving average is $87.23 and its 200-day simple moving average is $90.94.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s payout ratio is currently 420.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Weiss Ratings raised Crown Castle from a “sell (d)” rating to a “hold (c-)” rating in a research note on Tuesday, February 24th. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday. UBS Group dropped their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Finally, Barclays reduced their target price on shares of Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 17th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $100.13.

Insider Buying and Selling

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was 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. The trade was a 15.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the completion of the sale, the vice president directly owned 5,800 shares of the company’s stock, valued at $507,442. This represents a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.10% of the stock is owned by insiders.

Crown Castle Company 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.