American Century Companies Inc. Has $35.85 Million Stock Holdings in Crown Castle Inc. $CCI

American Century Companies Inc. raised its position in Crown Castle Inc. (NYSE:CCI) by 37.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 371,523 shares of the real estate investment trust’s stock after purchasing an additional 100,451 shares during the quarter. American Century Companies Inc. owned 0.09% of Crown Castle worth $35,848,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Winnow Wealth LLC purchased a new position in shares of Crown Castle during the second quarter valued at about $26,000. Twin Peaks Wealth Advisors LLC bought a new stake in Crown Castle during the 2nd quarter valued at approximately $27,000. NewSquare Capital LLC grew its holdings in shares of Crown Castle by 74.5% during the 2nd quarter. NewSquare Capital LLC now owns 281 shares of the real estate investment trust’s stock worth $29,000 after acquiring an additional 120 shares during the period. LRI Investments LLC bought a new stake in Crown Castle during the third quarter worth about $29,000. Finally, Cornerstone Planning Group LLC grew its holdings in Crown Castle by 269.9% in the third quarter. Cornerstone Planning Group LLC now owns 381 shares of the real estate investment trust’s stock worth $35,000 after purchasing an additional 278 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Price Performance

Crown Castle stock opened at $90.49 on Friday. The firm has a market capitalization of $39.46 billion, a P/E ratio of 89.59, a price-to-earnings-growth ratio of 0.46 and a beta of 0.96. Crown Castle Inc. has a 1-year low of $77.01 and a 1-year high of $115.76. The company’s 50-day moving average is $87.33 and its 200 day moving average is $91.46.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $1.0625 per share. The ex-dividend date is Friday, March 13th. This represents a $4.25 dividend on an annualized basis and a yield of 4.7%. Crown Castle’s dividend payout ratio is currently 420.79%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. New Street Research lowered shares of Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 5th. Wall Street Zen lowered shares of Crown Castle from a “hold” rating to a “sell” rating in a report on Saturday, February 28th. Scotiabank lowered their price objective on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 5th. Raymond James Financial cut their target price on Crown Castle from $120.00 to $106.00 and set a “strong-buy” rating on the stock in a research note on Friday, January 23rd. Finally, BMO Capital Markets decreased their price target on Crown Castle from $97.00 to $91.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $100.13.

Insiders Place Their Bets

In other news, VP Robert Sean Collins sold 3,000 shares of Crown Castle stock in a transaction on Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the completion of the sale, the vice president directly owned 5,800 shares in the company, valued at approximately $507,442. The trade was a 34.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of Crown Castle 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 transaction, the executive vice president owned 25,183 shares of the company’s stock, valued at approximately $2,174,300.22. This represents a 15.59% 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.

Crown Castle 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.