Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins Sells 3,600 Shares

Crown Castle Inc. (NYSE:CCI) VP Robert Sean Collins sold 3,600 shares of the company’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.72, for a total transaction of $384,192.00. Following the sale, the vice president now directly owns 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Crown Castle Stock Performance

CCI stock opened at $104.63 on Thursday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business has a 50-day moving average price of $101.11 and a 200 day moving average price of $98.03. The company has a market capitalization of $45.56 billion, a P/E ratio of 37.10 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle (NYSE:CCI) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.62). The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.72 EPS. As a group, equities research analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.98%. The ex-dividend date was Friday, March 14th. Crown Castle’s payout ratio is -58.18%.

Institutional Investors Weigh In On Crown Castle

A number of institutional investors have recently added to or reduced their stakes in the stock. Barclays PLC lifted its position in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after buying an additional 348,296 shares during the last quarter. World Investment Advisors LLC raised its stake in shares of Crown Castle by 16.7% during the 3rd quarter. World Investment Advisors LLC now owns 3,374 shares of the real estate investment trust’s stock worth $400,000 after acquiring an additional 484 shares in the last quarter. Tidal Investments LLC lifted its position in Crown Castle by 12.7% during the third quarter. Tidal Investments LLC now owns 11,709 shares of the real estate investment trust’s stock valued at $1,389,000 after acquiring an additional 1,315 shares during the last quarter. Nordea Investment Management AB boosted its stake in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after acquiring an additional 282,821 shares in the last quarter. Finally, First Hawaiian Bank boosted its stake in Crown Castle by 28.8% in the fourth quarter. First Hawaiian Bank now owns 5,394 shares of the real estate investment trust’s stock valued at $490,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on CCI shares. KeyCorp upped their target price on shares of Crown Castle from $120.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, May 1st. StockNews.com downgraded Crown Castle from a “hold” rating to a “sell” rating in a research report on Monday. Bank of America began coverage on Crown Castle in a research report on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price target for the company. Argus upgraded shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $112.41.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.