Key Points
- Crown Castle VP Robert Sean Collins sold 3,000 shares on Feb. 27 at an average price of $87.49 for $262,470, trimming his position by 34.09% to 5,800 shares (valued at about $507,442).
- The company declared a quarterly dividend of $1.0625 (paid Mar. 31, ex-dividend Mar. 13), equal to an annualized $4.25 and a 4.7% yield, while reporting a very high payout ratio of 420.79%.
- Analysts maintain an average rating of "Moderate Buy" with a consensus price target of $100.02, though several firms recently cut targets; Crown Castle has a market cap of $39.05B and a P/E of 88.66.
Crown Castle Inc. (NYSE:CCI - Get Free Report) VP Robert Sean Collins sold 3,000 shares of the stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company's stock, valued at $507,442. This represents a 34.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
Crown Castle Price Performance
CCI stock opened at $89.54 on Friday. The company has a market capitalization of $39.05 billion, a price-to-earnings ratio of 88.66, a PEG ratio of 0.44 and a beta of 0.96. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76. The business has a 50 day simple moving average of $87.05 and a two-hundred day simple moving average of $91.85.
Crown Castle Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, March 13th. Crown Castle's payout ratio is currently 420.79%.
Wall Street Analysts Forecast Growth
CCI has been the subject of a number of research analyst reports. Weiss Ratings upgraded Crown Castle from a "sell (d)" rating to a "hold (c-)" rating in a research report on Tuesday. HSBC dropped their price target on Crown Castle from $107.00 to $88.40 and set a "hold" rating for the company in a research note on Thursday, February 5th. Citigroup reduced their price objective on Crown Castle from $110.00 to $106.00 and set a "buy" rating on the stock in a research note on Thursday, February 5th. KeyCorp lowered their target price on Crown Castle from $115.00 to $98.00 and set an "overweight" rating for the company in a research report on Thursday, February 5th. Finally, Barclays reduced their price target on shares of Crown Castle from $101.00 to $91.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $100.02.
Read Our Latest Research Report on Crown Castle
Institutional Trading of Crown Castle
Institutional investors have recently added to or reduced their stakes in the company. Foresight Group Ltd Liability Partnership grew its stake in Crown Castle by 25.8% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust's stock worth $9,950,000 after acquiring an additional 21,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Crown Castle by 15.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust's stock valued at $6,847,000 after purchasing an additional 9,552 shares during the period. Country Club Bank boosted its holdings in shares of Crown Castle by 20.1% in the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust's stock valued at $6,808,000 after purchasing an additional 11,851 shares during the period. Cooke & Bieler LP grew its stake in Crown Castle by 6.1% in the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust's stock worth $233,413,000 after purchasing an additional 138,061 shares in the last quarter. Finally, National Pension Service increased its holdings in Crown Castle by 3.5% during the 3rd quarter. National Pension Service now owns 656,795 shares of the real estate investment trust's stock worth $63,374,000 after purchasing an additional 21,986 shares during the period. Institutional investors own 90.77% of the company's stock.
About Crown Castle
(
Get Free Report)
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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