Crown Castle Inc. $CCI Shares Bought by Aberdeen Group plc

Aberdeen Group plc grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 13.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,052,667 shares of the real estate investment trust’s stock after buying an additional 128,212 shares during the period. Aberdeen Group plc owned 0.24% of Crown Castle worth $93,551,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CCI. Twin Peaks Wealth Advisors LLC bought a new position in Crown Castle during the 2nd quarter valued at $27,000. LRI Investments LLC acquired a new stake in shares of Crown Castle in the third quarter valued at $29,000. Wiser Advisor Group LLC bought a new position in Crown Castle during the third quarter valued at about $29,000. KERR FINANCIAL PLANNING Corp acquired a new position in Crown Castle during the third quarter worth about $31,000. Finally, Triumph Capital Management bought a new stake in Crown Castle in the third quarter worth about $31,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

CCI opened at $84.73 on Friday. The company has a market cap of $36.95 billion, a PE ratio of 83.89, a price-to-earnings-growth ratio of 0.43 and a beta of 0.94. The stock has a 50-day moving average of $85.72 and a 200-day moving average of $89.42. Crown Castle Inc. has a 52-week low of $75.96 and a 52-week high of $115.76.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were paid a $1.0625 dividend. The ex-dividend date was Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a dividend yield of 5.0%. Crown Castle’s dividend payout ratio is currently 420.79%.

Insider Activity

In other Crown Castle news, EVP Edward B. Adams, Jr. sold 4,650 shares of the firm’s stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, the executive vice president owned 25,183 shares in the company, valued at $2,174,300.22. This trade represents a 15.59% 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 link. Also, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $87.49, for a total value of $262,470.00. Following the sale, the vice president directly owned 5,800 shares in the company, valued at $507,442. The trade was a 34.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Raymond James Financial cut their target price on shares of Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating for the company in a research note on Friday, January 23rd. HSBC dropped their price target on Crown Castle from $107.00 to $88.40 and set a “hold” rating on the stock in a report on Thursday, February 5th. Wolfe Research downgraded Crown Castle from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Barclays reduced their price objective on Crown Castle from $101.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 17th. Finally, New Street Research lowered Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price on the stock. in a research report on Monday, January 5th. Two investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.34.

Crown Castle Company Profile

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.