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

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

Crown Castle Stock Performance

CCI stock opened at $106.55 on Wednesday. The firm has a 50-day simple moving average of $100.90 and a two-hundred day simple moving average of $97.99. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm has a market cap of $46.39 billion, a price-to-earnings ratio of 37.78 and a beta of 0.93.

Crown Castle (NYSE:CCI) last announced its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. Crown Castle’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the business earned $1.72 earnings per share. On average, equities analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.88%. Crown Castle’s payout ratio is -58.18%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of recent analyst reports. Argus raised shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, JMP Securities boosted their target price on shares of Crown Castle from $115.00 to $125.00 and gave the company a “market outperform” rating in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.41.

Hedge Funds Weigh In On Crown Castle

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. increased its stake in Crown Castle by 3.3% during the 1st quarter. Assetmark Inc. now owns 20,875 shares of the real estate investment trust’s stock valued at $2,176,000 after purchasing an additional 660 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Crown Castle by 26.2% in the 1st quarter. Avantax Advisory Services Inc. now owns 43,610 shares of the real estate investment trust’s stock worth $4,545,000 after acquiring an additional 9,041 shares during the last quarter. Tufton Capital Management raised its stake in Crown Castle by 1.4% in the 1st quarter. Tufton Capital Management now owns 65,158 shares of the real estate investment trust’s stock worth $6,791,000 after acquiring an additional 919 shares during the last quarter. Brookwood Investment Group LLC acquired a new stake in Crown Castle during the 1st quarter worth about $442,000. Finally, Principle Wealth Partners LLC purchased a new stake in Crown Castle during the 1st quarter valued at about $325,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Company Profile

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.