Bryn Mawr Trust Advisors LLC Purchases Shares of 8,273 Crown Castle Inc. $CCI

Bryn Mawr Trust Advisors LLC acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 8,273 shares of the real estate investment trust’s stock, valued at approximately $627,000.

Other large investors have also recently made changes to their positions in the company. Cornerstone Capital Inc. bought a new stake in shares of Crown Castle during the second quarter worth about $4,478,000. Becker Capital Management Inc. lifted its position in Crown Castle by 1.4% in the 2nd quarter. Becker Capital Management Inc. now owns 36,931 shares of the real estate investment trust’s stock valued at $2,797,000 after acquiring an additional 520 shares in the last quarter. Jacobi Capital Management LLC lifted its position in Crown Castle by 4.8% in the 2nd quarter. Jacobi Capital Management LLC now owns 9,496 shares of the real estate investment trust’s stock valued at $719,000 after acquiring an additional 432 shares in the last quarter. Linscomb Wealth Inc. boosted its stake in Crown Castle by 0.3% during the 2nd quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust’s stock valued at $4,052,000 after purchasing an additional 145 shares during the last quarter. Finally, Aberdeen Group plc boosted its stake in Crown Castle by 4.9% during the 2nd quarter. Aberdeen Group plc now owns 1,054,126 shares of the real estate investment trust’s stock valued at $79,829,000 after purchasing an additional 49,485 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of Crown Castle stock in a transaction on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the sale, the vice president directly owned 5,113 shares in the company, valued at $388,025.57. The trade was a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.09% of the stock is owned by insiders.

Crown Castle Trading Up 0.2%

Shares of Crown Castle stock opened at $75.91 on Friday. The business’s fifty day simple moving average is $79.61 and its 200 day simple moving average is $84.52. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61. The firm has a market capitalization of $32.30 billion, a P/E ratio of 38.53, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95.

Crown Castle Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio (DPR) is currently 215.74%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. KeyCorp increased their price objective on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, April 23rd. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Friday, July 24th. The Goldman Sachs Group initiated coverage on Crown Castle in a report on Friday, June 26th. They set a “neutral” rating and a $95.00 price target for the company. Jefferies Financial Group lowered their price target on Crown Castle from $88.00 to $82.00 and set a “hold” rating for the company in a research report on Wednesday, July 15th. Finally, Raymond James Financial increased their price target on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $95.13.

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.