Crown Castle (NYSE:CCI) EVP Edward Adams, Jr. Sells 4,650 Shares

by · The Markets Daily

Crown Castle Inc. (NYSE:CCIGet Free Report) EVP Edward Adams, Jr. sold 4,650 shares of Crown Castle stock in a transaction dated 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 represents a 15.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Crown Castle Trading Up 3.6%

CCI stock traded up $3.14 during mid-day trading on Friday, reaching $89.54. 6,837,769 shares of the stock traded hands, compared to its average volume of 3,648,866. The company has a market cap of $39.05 billion, a P/E ratio of 88.66, a P/E/G ratio of 0.44 and a beta of 0.96. Crown Castle Inc. has a 52-week low of $77.01 and a 52-week high of $115.76. The stock’s fifty day moving average is $86.98 and its 200-day moving average is $91.95.

Crown Castle Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CCI shares. Wells Fargo & Company reduced their price objective on Crown Castle from $105.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, February 5th. Barclays dropped their target price on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada decreased their price target on shares of Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a report on Monday, January 12th. BMO Capital Markets lowered their price objective on shares of Crown Castle from $97.00 to $91.00 and set an “outperform” rating on the stock in a research report on Thursday, February 5th. Finally, Scotiabank cut their target price on shares of Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $100.02.

Read Our Latest Stock Analysis on CCI

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Winnow Wealth LLC bought a new position in shares of Crown Castle during the 2nd quarter worth about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Crown Castle during the second quarter worth $27,000. NewSquare Capital LLC increased its position in Crown Castle by 74.5% in the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 120 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Crown Castle during the third quarter valued at approximately $29,000. Finally, Creative Financial Designs Inc. ADV increased its stake in shares of Crown Castle by 47.8% in the 2nd quarter. Creative Financial Designs Inc. ADV now owns 303 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 98 shares during the period. 90.77% of the stock is owned by institutional investors.

About Crown Castle

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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.

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