Cooke & Bieler LP Has $206.54 Million Stock Holdings in Crown Castle Inc. $CCI

Cooke & Bieler LP lessened its position in Crown Castle Inc. (NYSE:CCI) by 1.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,727,278 shares of the real estate investment trust’s stock after selling 27,102 shares during the period. Crown Castle makes up 2.4% of Cooke & Bieler LP’s portfolio, making the stock its 6th biggest position. Cooke & Bieler LP’s holdings in Crown Castle were worth $206,537,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CCI. Wiser Advisor Group LLC acquired a new position in Crown Castle during the 3rd quarter valued at about $29,000. Triumph Capital Management acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC raised its holdings in shares of Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 134 shares during the last quarter. Salomon & Ludwin LLC raised its holdings in shares of Crown Castle by 128.7% during the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 215 shares during the last quarter. Finally, MV Capital Management Inc. acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $34,000. 90.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction dated 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 transaction, the vice president owned 5,113 shares in the company, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Raymond James Financial raised their target price on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 23rd. KeyCorp boosted their price target on Crown Castle from $98.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, April 23rd. Wall Street Zen raised Crown Castle from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Royal Bank Of Canada cut their price objective on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a research note on Thursday, July 23rd. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a report on Friday, May 22nd. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $95.13.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $75.75 on Friday. The stock has a fifty day moving average price of $79.98 and a two-hundred day moving average price of $84.58. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $104.61. The firm has a market cap of $32.23 billion, a P/E ratio of 38.45, a PEG ratio of 0.39 and a beta of 0.95.

Crown Castle Announces Dividend

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

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.