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

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

Crown Castle Price Performance

Shares of Crown Castle stock opened at $106.55 on Wednesday. The company has a market capitalization of $46.39 billion, a price-to-earnings ratio of 37.78 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock’s 50-day simple moving average is $100.90 and its 200-day simple moving average is $97.99. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.62). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the business earned $1.72 earnings per share. The company’s quarterly revenue was down 4.8% compared to the same quarter last year. As a group, analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CCI. Citigroup upped their target price on shares of Crown Castle from $108.00 to $124.00 and gave the company a “buy” rating in a research note on Monday. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the company from $128.00 to $122.00 in a research report on Friday, March 14th. StockNews.com downgraded shares of Crown Castle from a “hold” rating to a “sell” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their price target 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, Royal Bank of Canada increased their target price on Crown Castle from $107.00 to $112.00 and gave the company a “sector perform” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $112.41.

Hedge Funds Weigh In On Crown Castle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new position in shares of Crown Castle in the fourth quarter valued at $25,000. Opal Wealth Advisors LLC purchased a new position in shares of Crown Castle in the 1st quarter worth $26,000. Iron Horse Wealth Management LLC bought a new stake in shares of Crown Castle in the 1st quarter worth about $26,000. American National Bank & Trust purchased a new stake in shares of Crown Castle during the 1st quarter valued at about $29,000. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

About Crown Castle

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.