Caden Capital Partners LP Acquires 30,000 Shares of Crown Castle Inc. $CCI

Caden Capital Partners LP raised its stake in shares of Crown Castle Inc. (NYSE:CCI) by 9.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 337,807 shares of the real estate investment trust’s stock after buying an additional 30,000 shares during the period. Crown Castle accounts for approximately 13.2% of Caden Capital Partners LP’s portfolio, making the stock its 3rd biggest holding. Caden Capital Partners LP’s holdings in Crown Castle were worth $32,595,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC lifted its holdings in Crown Castle by 7.5% in the 1st quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the last quarter. Savant Capital LLC grew its holdings in Crown Castle by 14.2% during the second quarter. Savant Capital LLC now owns 5,429 shares of the real estate investment trust’s stock valued at $558,000 after purchasing an additional 675 shares during the last quarter. Los Angeles Capital Management LLC raised its position in shares of Crown Castle by 6.8% in the second quarter. Los Angeles Capital Management LLC now owns 2,283 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 145 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Crown Castle in the second quarter worth $641,000. Finally, Allworth Financial LP lifted its stake in shares of Crown Castle by 37.5% in the second quarter. Allworth Financial LP now owns 9,318 shares of the real estate investment trust’s stock worth $957,000 after buying an additional 2,541 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction on Wednesday, February 25th. The shares were 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 owned 25,183 shares in the company, valued at approximately $2,174,300.22. This represents a 15.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the transaction, the vice president directly owned 5,800 shares of the company’s stock, valued at $507,442. The trade was a 34.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Crown Castle Stock Up 1.5%

Crown Castle stock opened at $87.44 on Friday. The business has a 50 day moving average price of $87.23 and a two-hundred day moving average price of $90.86. Crown Castle Inc. has a 12 month low of $77.01 and a 12 month high of $115.76. The stock has a market cap of $38.13 billion, a price-to-earnings ratio of 86.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Friday, March 13th. Crown Castle’s dividend payout ratio is presently 420.79%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CCI. Wolfe Research lowered shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Sanford C. Bernstein initiated coverage on shares of Crown Castle in a report on Thursday, March 5th. They set an “outperform” rating and a $102.00 price target for the company. The Goldman Sachs Group lowered their price target 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. JPMorgan Chase & Co. cut their price objective on Crown Castle from $110.00 to $95.00 and set a “neutral” rating for the company in a research report on Thursday, February 5th. Finally, UBS Group decreased their target price on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $100.13.

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.