Crown Castle Inc. $CCI Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.5% in the 1st quarter, HoldingsChannel reports. The firm owned 207,899 shares of the real estate investment trust’s stock after selling 9,714 shares during the period. Pacer Advisors Inc.’s holdings in Crown Castle were worth $16,904,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Wiser Advisor Group LLC acquired a new stake in Crown Castle in the 3rd quarter valued at about $29,000. Hilton Head Capital Partners LLC grew its position 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 worth $31,000 after buying an additional 134 shares in the last quarter. Triumph Capital Management acquired a new position in shares of Crown Castle during the third quarter worth about $31,000. Global Assets Advisory LLC purchased a new stake in shares of Crown Castle during the first quarter worth approximately $32,000. Finally, Salomon & Ludwin LLC increased its stake 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 worth $34,000 after buying an additional 215 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. TD Cowen decreased their price target on shares of Crown Castle from $94.00 to $92.00 and set a “buy” rating for the company in a research note on Thursday, July 23rd. Royal Bank Of Canada dropped 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 report on Thursday, July 23rd. Truist Financial reduced their price objective on shares of Crown Castle from $95.00 to $87.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Crown Castle in a research report on Friday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating for the company in a research report on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average price target of $95.13.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $77.68 on Wednesday. The stock’s 50-day simple moving average is $82.30 and its 200-day simple moving average is $85.27. The firm has a market capitalization of $33.90 billion, a PE ratio of 39.43, a price-to-earnings-growth ratio of 0.41 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $73.52 and a fifty-two week high of $107.12.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $1.0625 dividend. This represents a $4.25 annualized dividend and a yield of 5.5%. The ex-dividend date was Monday, June 15th. Crown Castle’s dividend payout ratio is currently 215.74%.

Crown Castle 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.