Crown Castle (NYSE:CCI) Stock: Insider Robert Sean Collins Sells 2,500 Shares

Crown Castle Inc. (NYSE:CCI) VP Robert Collins sold 2,500 shares of the firm’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $88.87, for a total value of $222,175.00. Following the sale, the vice president directly owned 2,613 shares in the company, valued at $232,217.31. The trade was a 48.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Crown Castle Trading Down 0.2%

NYSE:CCI opened at $89.14 on Thursday. Crown Castle Inc. has a 1 year low of $65.32 and a 1 year high of $95.07. The stock has a market cap of $37.93 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 0.78 and a beta of 0.88. The stock has a 50-day moving average price of $77.88 and a two-hundred day moving average price of $82.30.

Crown Castle (NYSE:CCI) last announced its quarterly earnings results on Wednesday, October 21st. The real estate investment trust reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by ($0.02). The business had revenue of $995.00 million during the quarter, compared to the consensus estimate of $1.01 billion. Crown Castle had a negative return on equity of 42.11% and a net margin of 20.12%. The firm’s revenue was down 7.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.12 earnings per share. Sell-side analysts forecast that Crown Castle Inc. will post 4.42 earnings per share for the current year.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Investors of record on Tuesday, December 15th will be paid a dividend of $1.0625 per share. This represents a $4.25 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 15th. Crown Castle’s dividend payout ratio is presently 223.68%.

Institutional Investors Weigh In On Crown Castle

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Crown Castle during the 2nd quarter worth approximately $3,326,154,000. State Street Corp raised its holdings in shares of Crown Castle by 0.9% in the second quarter. State Street Corp now owns 23,023,394 shares of the real estate investment trust’s stock valued at $1,743,562,000 after purchasing an additional 211,633 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of Crown Castle by 15.7% in the first quarter. Lazard Asset Management LLC now owns 13,463,182 shares of the real estate investment trust’s stock worth $1,094,691,000 after purchasing an additional 1,828,065 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Crown Castle by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,325,747 shares of the real estate investment trust’s stock worth $514,320,000 after purchasing an additional 144,538 shares in the last quarter. Finally, Legal & General Group Plc bought a new stake in shares of Crown Castle in the second quarter worth $456,897,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of a number of research reports. Jefferies Financial Group cut their price target on shares of Crown Castle from $88.00 to $82.00 and set a “hold” rating on the stock in a research note on Wednesday, July 15th. TD Cowen increased their price objective on shares of Crown Castle from $92.00 to $98.00 and gave the stock a “buy” rating in a research report on Thursday, October 22nd. Truist Financial lowered their price objective on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. JPMorgan Chase & Co. lowered shares of Crown Castle from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $85.00 to $80.00 in a report on Monday, September 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a research report on Thursday, October 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.27.

About Crown Castle

Crown Castle Inc. (NYSE: CCI) owns and operates wireless communications infrastructure in the United States. Its portfolio includes cell towers and small-cell networks that help wireless carriers expand coverage and capacity. The company leases space on its infrastructure to wireless carriers and other customers, allowing multiple users to deploy communications equipment on shared sites. Crown Castle has also operated fiber infrastructure and related services, which support small-cell networks and other connectivity needs.