iA Global Asset Management Inc. Purchases Shares of 19,312 Crown Castle Inc. $CCI

iA Global Asset Management Inc. purchased a new stake in Crown Castle Inc. (NYSE:CCI) during the second quarter, Holdings Channel reports. The fund purchased 19,312 shares of the real estate investment trust’s stock, valued at approximately $1,462,000.

Several other large investors have also recently made changes to their positions in the stock. United Asset Strategies Inc. boosted its position in shares of Crown Castle by 2.5% during the 4th quarter. United Asset Strategies Inc. now owns 4,931 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 120 shares during the period. Binnacle Investments Inc raised its position in Crown Castle by 10.9% in the third quarter. Binnacle Investments Inc now owns 1,295 shares of the real estate investment trust’s stock valued at $125,000 after purchasing an additional 127 shares during the period. Front Row Advisors LLC raised its position in Crown Castle by 1.4% in the first quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after purchasing an additional 130 shares during the period. Hilton Head Capital Partners LLC lifted its stake in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 134 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in Crown Castle by 10.2% during the first quarter. CENTRAL TRUST Co now owns 1,488 shares of the real estate investment trust’s stock worth $121,000 after purchasing an additional 138 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CCI. Raymond James Financial raised their price target on Crown Castle from $102.00 to $108.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 23rd. TD Cowen decreased their target price on Crown Castle from $94.00 to $92.00 and set a “buy” rating on the stock in a research note on Thursday, July 23rd. BMO Capital Markets decreased their target price on Crown Castle from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. Weiss Ratings restated a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Finally, Royal Bank Of Canada dropped their target price on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.

Crown Castle Stock Up 2.4%

Shares of Crown Castle stock opened at $75.75 on Friday. Crown Castle Inc. has a 52-week low of $69.72 and a 52-week high of $104.61. The company has a market capitalization of $32.23 billion, a P/E ratio of 38.45, a P/E/G ratio of 0.39 and a beta of 0.95. The company has a 50 day moving average of $79.98 and a 200 day moving average of $84.58.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 dividend yield of 5.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s payout ratio is 215.74%.

Insider Activity

In related news, VP Robert Sean Collins sold 1,500 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the transaction, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Crown Castle 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.