Caden Capital Partners LP Has $32.60 Million Holdings in Crown Castle Inc. $CCI

Caden Capital Partners LP lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 9.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 337,807 shares of the real estate investment trust’s stock after purchasing an additional 30,000 shares during the period. Crown Castle comprises 13.2% of Caden Capital Partners LP’s holdings, making the stock its 3rd biggest holding. Caden Capital Partners LP owned about 0.08% of Crown Castle worth $32,595,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Foresight Group Ltd Liability Partnership increased its stake in Crown Castle by 25.8% in the 3rd quarter. Foresight Group Ltd Liability Partnership now owns 103,407 shares of the real estate investment trust’s stock worth $9,950,000 after purchasing an additional 21,194 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Crown Castle by 15.6% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,963 shares of the real estate investment trust’s stock valued at $6,847,000 after purchasing an additional 9,552 shares in the last quarter. Country Club Bank lifted its holdings in shares of Crown Castle by 20.1% in the third quarter. Country Club Bank now owns 70,778 shares of the real estate investment trust’s stock valued at $6,808,000 after purchasing an additional 11,851 shares in the last quarter. Cooke & Bieler LP boosted its position in shares of Crown Castle by 6.1% in the third quarter. Cooke & Bieler LP now owns 2,419,034 shares of the real estate investment trust’s stock worth $233,413,000 after buying an additional 138,061 shares during the period. Finally, National Pension Service boosted its position in shares of Crown Castle by 3.5% in the third quarter. National Pension Service now owns 656,795 shares of the real estate investment trust’s stock worth $63,374,000 after buying an additional 21,986 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of NYSE CCI opened at $87.44 on Friday. Crown Castle Inc. has a one year low of $77.01 and a one year high of $115.76. The business’s 50-day moving average price is $87.23 and its two-hundred day moving average price is $90.86. The company has a market capitalization of $38.13 billion, a P/E ratio of 86.57, a price-to-earnings-growth ratio of 0.44 and a beta of 0.96.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $4.25 annualized dividend and a dividend yield of 4.9%. Crown Castle’s payout ratio is presently 420.79%.

Insider Buying and Selling

In other Crown Castle news, 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Edward B. Adams, Jr. sold 4,650 shares of the business’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCI. UBS Group reduced their price objective on Crown Castle from $116.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 5th. Royal Bank Of Canada dropped their target price on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Citigroup reduced their price target on shares of Crown Castle from $110.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 5th. Wall Street Zen upgraded shares of Crown Castle from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Zacks Research upgraded shares of Crown Castle from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $100.13.

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.