Crown Castle Inc. $CCI Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lowered its position in Crown Castle Inc. (NYSE:CCI) by 4.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,899 shares of the real estate investment trust’s stock after selling 9,714 shares during the quarter. Pacer Advisors Inc.’s holdings in Crown Castle were worth $16,904,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Wiser Advisor Group LLC purchased a new position in Crown Castle in the third quarter worth approximately $29,000. Hilton Head Capital Partners LLC lifted its stake in shares of Crown Castle by 55.6% in the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 134 shares during the last quarter. Triumph Capital Management acquired a new position in shares of Crown Castle in the 3rd quarter valued at $31,000. Global Assets Advisory LLC purchased a new position in shares of Crown Castle during the 1st quarter worth $32,000. Finally, Salomon & Ludwin LLC grew its holdings in shares of Crown Castle by 128.7% during the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 215 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 1.2%

CCI stock opened at $77.68 on Wednesday. The company has a market capitalization of $33.90 billion, a PE ratio of 39.43, a P/E/G ratio of 0.41 and a beta of 0.95. Crown Castle Inc. has a 12-month low of $73.52 and a 12-month high of $107.12. The business’s fifty day moving average price is $82.30 and its 200 day moving average price is $85.27.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were given a dividend of $1.0625 per share. This represents a $4.25 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend was Monday, June 15th. Crown Castle’s dividend payout ratio is currently 215.74%.

Analysts Set New Price Targets

Several analysts recently issued reports on CCI shares. Barclays boosted their price objective on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research note on Thursday, July 23rd. Scotiabank lowered their target price on shares of Crown Castle from $94.00 to $91.00 and set a “sector perform” rating for the company in a research note on Tuesday, April 7th. KeyCorp lifted their price target on shares of Crown Castle from $98.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, April 23rd. Finally, The Goldman Sachs Group initiated coverage on shares of Crown Castle in a research note on Friday, June 26th. They issued a “neutral” rating and a $95.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.