Crown Castle Inc. (NYSE:CCI – Get Free Report) VP Robert Collins sold 2,500 shares of the company’s stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $88.87, for a total value of $222,175.00. Following the sale, the vice president owned 2,613 shares in the company, valued at approximately $232,217.31. This represents a 48.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Crown Castle Trading Up 1.7%
Shares of CCI stock traded up $1.48 during trading hours on Tuesday, reaching $89.31. The stock had a trading volume of 3,331,292 shares, compared to its average volume of 3,890,032. The stock’s fifty day simple moving average is $77.35 and its 200 day simple moving average is $82.27. Crown Castle Inc. has a 12 month low of $65.32 and a 12 month high of $95.07. The firm has a market capitalization of $38.00 billion, a PE ratio of 47.00, a PEG ratio of 0.81 and a beta of 0.88.
Crown Castle (NYSE:CCI – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The real estate investment trust reported $0.67 EPS for the quarter, missing the consensus estimate of $0.69 by ($0.02). The firm had revenue of $995.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. Crown Castle had a net margin of 20.12% and a negative return on equity of 42.11%. Crown Castle’s revenue was down 7.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.12 EPS. As a group, equities research analysts anticipate that Crown Castle Inc. will post 4.40 EPS for the current fiscal year.
Crown Castle Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Tuesday, December 15th will be issued a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Tuesday, December 15th. Crown Castle’s dividend payout ratio (DPR) is presently 223.68%.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on CCI shares. Citigroup reaffirmed a “market outperform” rating on shares of Crown Castle in a report on Thursday, October 22nd. Morgan Stanley set a $85.00 price objective on Crown Castle in a research report on Monday, September 21st. Royal Bank Of Canada dropped their price objective on Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research note on Thursday, July 23rd. Truist Financial reduced their target price on Crown Castle from $95.00 to $87.00 and set a “hold” rating for the company in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. lowered Crown Castle from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $85.00 to $80.00 in a research note on Monday, September 14th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $94.27.
Check Out Our Latest Research Report on Crown Castle
Hedge Funds Weigh In On Crown Castle
A number of institutional investors have recently made changes to their positions in CCI. Front Row Advisors LLC increased its stake in Crown Castle by 1.4% during the 1st quarter. Front Row Advisors LLC now owns 9,305 shares of the real estate investment trust’s stock valued at $757,000 after buying an additional 130 shares during the period. Linscomb Wealth Inc. raised its position in shares of Crown Castle by 0.3% during the 2nd quarter. Linscomb Wealth Inc. now owns 53,512 shares of the real estate investment trust’s stock worth $4,052,000 after buying an additional 145 shares in the last quarter. NBH Bank raised its position in shares of Crown Castle by 19.4% during the 3rd quarter. NBH Bank now owns 892 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 145 shares in the last quarter. Everhart Financial Group Inc. lifted its stake in shares of Crown Castle by 2.7% in the 2nd quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust’s stock worth $443,000 after acquiring an additional 153 shares during the period. Finally, Mirador Capital Partners LP lifted its stake in shares of Crown Castle by 2.1% in the 3rd quarter. Mirador Capital Partners LP now owns 8,512 shares of the real estate investment trust’s stock worth $567,000 after acquiring an additional 177 shares during the period. Institutional investors own 90.77% of the company’s stock.
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.
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