Cambridge Investment Research Advisors Inc. Has $2.20 Million Position in Crown Castle Inc. $CCI

Cambridge Investment Research Advisors Inc. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 21.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,997 shares of the real estate investment trust’s stock after selling 7,706 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Crown Castle were worth $2,196,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Tema ETFs LLC raised its stake in shares of Crown Castle by 16.3% during the second quarter. Tema ETFs LLC now owns 9,191 shares of the real estate investment trust’s stock valued at $696,000 after acquiring an additional 1,287 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in shares of Crown Castle by 6.0% during the second quarter. Handelsbanken Fonder AB now owns 234,452 shares of the real estate investment trust’s stock worth $17,755,000 after purchasing an additional 13,205 shares during the period. Wealthcare Advisory Partners LLC grew its stake in shares of Crown Castle by 14.8% in the second quarter. Wealthcare Advisory Partners LLC now owns 3,133 shares of the real estate investment trust’s stock worth $237,000 after purchasing an additional 404 shares during the last quarter. Everhart Financial Group Inc. grew its stake in shares of Crown Castle by 2.7% in the second quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust’s stock worth $443,000 after purchasing an additional 153 shares during the last quarter. Finally, Czech National Bank increased its holdings in Crown Castle by 4.7% in the second quarter. Czech National Bank now owns 124,231 shares of the real estate investment trust’s stock valued at $9,408,000 after purchasing an additional 5,630 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on CCI shares. Citizens Jmp lowered their target price on Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research report on Friday, July 24th. Royal Bank Of Canada reduced their price target on Crown Castle from $92.00 to $90.00 and set an “outperform” rating on the stock in a research report on Thursday, July 23rd. TD Cowen lowered their price objective on Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research report on Thursday, July 23rd. The Goldman Sachs Group initiated coverage on Crown Castle in a research report on Friday, June 26th. They set a “neutral” rating and a $95.00 price objective for the company. Finally, Raymond James Financial upped their target price on Crown Castle from $102.00 to $108.00 and gave the company a “strong-buy” rating in a report on Thursday, April 23rd. Two research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $95.13.

Insider Activity at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $75.89, for a total transaction of $113,835.00. Following the completion of the sale, the vice president owned 5,113 shares of the company’s stock, valued at $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.09% of the stock is currently owned by insiders.

Crown Castle Trading Up 2.4%

Shares of Crown Castle stock opened at $75.75 on Friday. The business has a 50-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 company 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 announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. 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.