8,288 Shares in Crown Castle Inc. $CCI Purchased by Altfest L J & Co. Inc.

Altfest L J & Co. Inc. acquired a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,288 shares of the real estate investment trust’s stock, valued at approximately $737,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Robeco Institutional Asset Management B.V. lifted its position in Crown Castle by 36.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 692,656 shares of the real estate investment trust’s stock worth $61,556,000 after purchasing an additional 185,360 shares during the period. Networth Advisors LLC acquired a new position in Crown Castle during the fourth quarter worth about $142,000. Brookwood Investment Group LLC acquired a new position in Crown Castle during the fourth quarter worth about $218,000. LDR Capital Management LLC raised its stake in Crown Castle by 317.1% during the fourth quarter. LDR Capital Management LLC now owns 47,072 shares of the real estate investment trust’s stock worth $4,183,000 after acquiring an additional 35,787 shares in the last quarter. Finally, Fiduciary Alliance LLC raised its stake in Crown Castle by 8.4% during the fourth quarter. Fiduciary Alliance LLC now owns 15,310 shares of the real estate investment trust’s stock worth $1,361,000 after acquiring an additional 1,190 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Insider Activity at Crown Castle

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

Crown Castle Price Performance

Crown Castle stock opened at $86.31 on Monday. The business has a 50 day moving average of $85.67 and a 200-day moving average of $89.08. Crown Castle Inc. has a 1 year low of $75.96 and a 1 year high of $115.76. The company has a market capitalization of $37.66 billion, a P/E ratio of 85.45, a P/E/G ratio of 0.44 and a beta of 0.94.

Crown Castle Announces Dividend

The company 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 of this dividend was Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s dividend payout ratio is currently 420.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Royal Bank Of Canada lowered their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating for the company in a research note on Monday, January 12th. Wells Fargo & Company reissued an “equal weight” rating and set a $85.00 target price (down from $90.00) on shares of Crown Castle in a research note on Monday, March 23rd. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, March 14th. Wolfe Research lowered their target price on Crown Castle from $114.00 to $94.00 and set an “outperform” rating for the company in a research note on Monday, April 6th. Finally, Barclays lowered their target price 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. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $98.13.

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.