Waterloo Capital L.P. Boosts Position in Crown Castle Inc. $CCI

Waterloo Capital L.P. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 35.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,530 shares of the real estate investment trust’s stock after acquiring an additional 7,390 shares during the quarter. Waterloo Capital L.P.’s holdings in Crown Castle were worth $2,161,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Gilliland Jeter Wealth Management LLC boosted its holdings in Crown Castle by 3.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 7,090 shares of the real estate investment trust’s stock valued at $537,000 after acquiring an additional 267 shares in the last quarter. iA Global Asset Management Inc. purchased a new position in Crown Castle during the 2nd quarter valued at $1,462,000. Swiss Life Asset Management Ltd raised its holdings in Crown Castle by 21.3% in the 2nd quarter. Swiss Life Asset Management Ltd now owns 119,868 shares of the real estate investment trust’s stock worth $9,078,000 after purchasing an additional 21,054 shares in the last quarter. Meramec Financial Planners LLC raised its holdings in Crown Castle by 44.7% in the 2nd quarter. Meramec Financial Planners LLC now owns 1,516 shares of the real estate investment trust’s stock worth $112,000 after purchasing an additional 468 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its position in shares of Crown Castle by 7.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 53,595 shares of the real estate investment trust’s stock worth $4,059,000 after purchasing an additional 3,748 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $75.75 on Friday. The company has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.45, a price-to-earnings-growth ratio of 0.39 and a beta of 0.95. Crown Castle Inc. has a one year low of $69.72 and a one year high of $104.61. The company’s 50-day moving average is $79.98 and its 200 day moving average is $84.58.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.6%. Crown Castle’s dividend payout ratio is presently 215.74%.

Insider Activity at Crown Castle

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CCI shares. BMO Capital Markets cut their target price on shares of Crown Castle from $100.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, July 20th. TD Cowen decreased their price target on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Citizens Jmp lowered their price objective on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a report on Friday, July 24th. Truist Financial cut their price objective on Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Finally, JPMorgan Chase & Co. reduced their target price on Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a report on Thursday, July 23rd. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $95.13.

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.