Commerzbank Aktiengesellschaft FI Takes Position in Crown Castle Inc. $CCI

Commerzbank Aktiengesellschaft FI bought a new position in Crown Castle Inc. (NYSE:CCI) in the second quarter, HoldingsChannel.com reports. The fund bought 70,223 shares of the real estate investment trust’s stock, valued at approximately $5,318,000.

Several other institutional investors have also recently added to or reduced their stakes in CCI. Norges Bank acquired a new position in Crown Castle during the 4th quarter valued at about $594,670,000. Lazard Asset Management LLC boosted its position in shares of Crown Castle by 124.2% during the fourth quarter. Lazard Asset Management LLC now owns 11,635,117 shares of the real estate investment trust’s stock worth $1,034,013,000 after purchasing an additional 6,445,237 shares in the last quarter. Cohen & Steers Inc. grew its stake in Crown Castle by 11.0% in the fourth quarter. Cohen & Steers Inc. now owns 39,790,292 shares of the real estate investment trust’s stock valued at $3,536,214,000 after acquiring an additional 3,953,685 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Crown Castle by 591.8% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,471,120 shares of the real estate investment trust’s stock valued at $431,418,000 after purchasing an additional 3,824,778 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Crown Castle by 422.5% in the fourth quarter. Principal Financial Group Inc. now owns 3,581,154 shares of the real estate investment trust’s stock valued at $318,258,000 after buying an additional 2,895,756 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on CCI. Wolfe Research lowered shares of Crown Castle from an “outperform” rating to a “peer perform” rating in a research report on Wednesday, May 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Truist Financial decreased their price target on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. BMO Capital Markets reduced their price target on Crown Castle from $100.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, July 20th. Finally, Barclays increased their target price on shares of Crown Castle from $91.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.13.

Insider Buying and Selling

In other news, VP Robert Sean Collins sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the transaction, the vice president directly owned 5,113 shares of the company’s stock, valued at $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.09% of the stock is owned by insiders.

Crown Castle Trading Down 2.0%

Shares of CCI opened at $74.45 on Tuesday. The stock’s 50-day moving average price is $79.27 and its two-hundred day moving average price is $84.41. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61. The company has a market capitalization of $31.67 billion, a PE ratio of 37.79, a PEG ratio of 0.40 and a beta of 0.95.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Crown Castle’s payout ratio is 215.74%.

About Crown Castle

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.