Shell Asset Management Co. Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Shell Asset Management Co. lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,034 shares of the real estate investment trust’s stock after selling 329 shares during the quarter. Shell Asset Management Co.’s holdings in Crown Castle were worth $457,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CCI. Twin Tree Management LP purchased a new stake in Crown Castle in the 4th quarter valued at approximately $25,000. Roxbury Financial LLC purchased a new stake in Crown Castle in the 4th quarter valued at approximately $37,000. Marshall Investment Management LLC purchased a new stake in Crown Castle in the 4th quarter valued at approximately $50,000. Bank of Jackson Hole Trust purchased a new stake in Crown Castle in the 4th quarter valued at approximately $53,000. Finally, South Plains Financial Inc. purchased a new stake in Crown Castle in the 4th quarter valued at approximately $59,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling at Crown Castle

In other news, CEO Daniel K. Schlanger sold 20,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total transaction of $2,127,600.00. Following the completion of the sale, the chief executive officer now directly owns 110,571 shares of the company’s stock, valued at $11,762,542.98. The trade was a 15.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business’s stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.37, for a total transaction of $850,960.00. Following the sale, the executive vice president now directly owns 20,528 shares of the company’s stock, valued at $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 31,600 shares of company stock worth $3,362,752. Insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CCI. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. KeyCorp boosted their price target on Crown Castle from $120.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, May 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Argus raised Crown Castle to a “hold” rating in a research note on Friday, March 21st. Finally, Bank of America assumed coverage on Crown Castle in a research note on Thursday, March 20th. They set a “neutral” rating and a $110.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $112.41.

Crown Castle Trading Up 1.5%

Shares of CCI opened at $102.30 on Monday. The stock has a fifty day moving average of $101.78 and a two-hundred day moving average of $97.49. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market capitalization of $44.55 billion, a PE ratio of 36.28 and a beta of 0.93. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle (NYSE:CCI) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.62). The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s revenue was down 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.72 earnings per share. As a group, analysts forecast that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.12%. Crown Castle’s dividend payout ratio (DPR) is presently -58.18%.

Crown Castle Company Profile

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.