Nisa Investment Advisors LLC Lowers Position in Crown Castle Inc. $CCI

Nisa Investment Advisors LLC lessened its stake in Crown Castle Inc. (NYSE:CCI) by 33.0% during the fourth quarter, Holdings Channel reports. The firm owned 70,246 shares of the real estate investment trust’s stock after selling 34,670 shares during the period. Nisa Investment Advisors LLC’s holdings in Crown Castle were worth $6,243,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. State Street Corp grew its holdings in Crown Castle by 1.2% during the third quarter. State Street Corp now owns 21,728,541 shares of the real estate investment trust’s stock worth $2,096,587,000 after buying an additional 266,963 shares in the last quarter. Invesco Ltd. lifted its stake in Crown Castle by 33.2% during the 3rd quarter. Invesco Ltd. now owns 6,437,685 shares of the real estate investment trust’s stock valued at $621,172,000 after acquiring an additional 1,605,291 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 177,896 shares during the last quarter. Legal & General Group Plc boosted its holdings in Crown Castle by 4.3% during the 3rd quarter. Legal & General Group Plc now owns 5,621,490 shares of the real estate investment trust’s stock worth $542,418,000 after acquiring an additional 232,549 shares during the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Crown Castle by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 5,534,066 shares of the real estate investment trust’s stock worth $568,515,000 after acquiring an additional 117,904 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In other news, EVP Edward B. Adams, Jr. sold 4,650 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $86.34, for a total transaction of $401,481.00. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert Sean Collins sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $87.49, for a total transaction of $262,470.00. Following the sale, the vice president owned 5,800 shares of the company’s stock, valued at approximately $507,442. The trade was a 34.09% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.10% of the stock is owned by corporate insiders.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $84.73 on Friday. The company has a market capitalization of $36.95 billion, a P/E ratio of 83.89, a price-to-earnings-growth ratio of 0.41 and a beta of 0.94. The company’s 50-day moving average is $85.75 and its 200 day moving average is $89.48. Crown Castle Inc. has a fifty-two week low of $75.96 and a fifty-two week high of $115.76.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were paid a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date was Friday, March 13th. Crown Castle’s payout ratio is presently 420.79%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. New Street Research downgraded 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. KeyCorp reduced their price objective on shares of Crown Castle from $115.00 to $98.00 and set an “overweight” rating for the company in a research report on Thursday, February 5th. Sanford C. Bernstein started coverage on shares of Crown Castle in a research note on Thursday, March 5th. They issued an “outperform” rating and a $102.00 price objective for the company. Wall Street Zen raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Finally, 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. Two research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $99.34.

Crown Castle Company 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.