Stance Capital LLC Invests $1.40 Million in Crown Castle Inc. $CCI

Stance Capital LLC bought a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 14,545 shares of the real estate investment trust’s stock, valued at approximately $1,403,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Crown Castle by 0.7% in the second quarter. Vanguard Group Inc. now owns 69,290,381 shares of the real estate investment trust’s stock valued at $7,118,201,000 after purchasing an additional 449,776 shares during the last quarter. State Street Corp increased its holdings in Crown Castle by 1.2% in the 3rd quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock valued at $2,096,587,000 after buying an additional 266,963 shares during the period. Invesco Ltd. raised its position in Crown Castle by 33.2% during the third quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after purchasing an additional 1,605,291 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Crown Castle by 3.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,185,915 shares of the real estate investment trust’s stock worth $596,876,000 after buying an additional 177,896 shares in the last quarter. Finally, Norges Bank acquired a new position in Crown Castle during the second quarter worth about $629,431,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $87.84 on Wednesday. The stock has a fifty day moving average price of $87.23 and a 200-day moving average price of $90.65. The firm has a market cap of $38.30 billion, a PE ratio of 86.97, a P/E/G ratio of 0.44 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.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be issued a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 13th. Crown Castle’s payout ratio is 420.79%.

Insiders Place Their Bets

In other Crown Castle news, VP Robert Sean Collins sold 3,000 shares of the company’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $87.49, for a total transaction of $262,470.00. Following the sale, the vice president directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the transaction, the executive vice president 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. Company insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Scotiabank dropped their price target on Crown Castle from $96.00 to $94.00 and set a “sector perform” rating for the company in a research note on Thursday, February 5th. Raymond James Financial lowered 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. KeyCorp cut their price target on Crown Castle from $115.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, February 5th. JPMorgan Chase & Co. cut their price objective on shares of Crown Castle from $110.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, February 5th. Finally, Wolfe Research downgraded shares of Crown Castle from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $100.13.

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.