Aberdeen Group plc Acquires 49,485 Shares of Crown Castle Inc. $CCI

Key Points

• Aberdeen Group increased its Crown Castle stake by 4.9% in the second quarter, acquiring 49,485 shares for a total holding of 1.05 million shares valued at approximately $79.8 million. Institutional investors collectively own 90.77% of CCI.
• Crown Castle declared a quarterly dividend of $1.0625 per share, equivalent to an annualized $4.25 payout and a 5.6% yield, although its dividend payout ratio is elevated at 215.74%.
• CCI shares opened at $75.91, well below the analyst consensus target of $95.13. Analysts maintain a “Moderate Buy” consensus, while recent ratings range from Hold to Buy.

Aberdeen Group plc increased its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.9% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,054,126 shares of the real estate investment trust's stock after acquiring an additional 49,485 shares during the period. Aberdeen Group plc owned 0.24% of Crown Castle worth $79,829,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Wiser Advisor Group LLC bought a new position in shares of Crown Castle during the 3rd quarter worth about $29,000. Triumph Capital Management acquired a new stake in Crown Castle during the third quarter worth $31,000. Hilton Head Capital Partners LLC lifted its holdings in shares of Crown Castle by 55.6% during the 1st quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust's stock worth $31,000 after acquiring an additional 134 shares during the period. Salomon & Ludwin LLC increased its stake in Crown Castle by 128.7% in the fourth quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 215 shares during the period. Finally, MV Capital Management Inc. acquired a new position in Crown Castle in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the 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 transaction, the vice president directly owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This represents a 22.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.09% of the stock is currently owned by company insiders.

Crown Castle Trading Up 0.2%

Shares of Crown Castle stock opened at $75.91 on Friday. The firm has a market capitalization of $32.30 billion, a PE ratio of 38.53, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The business's 50-day moving average price is $79.61 and its 200-day moving average price is $84.52. Crown Castle Inc. has a 12 month low of $69.72 and a 12 month high of $104.61.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $1.0625 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.6%. Crown Castle's dividend payout ratio (DPR) is 215.74%.

Wall Street Analyst Weigh In

CCI has been the subject of several analyst reports. Barclays raised their target price on Crown Castle from $91.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Monday, May 4th. TD Cowen lowered their price objective on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Jefferies Financial Group dropped their price objective on Crown Castle from $88.00 to $82.00 and set a "hold" rating for the company in a report on Wednesday, July 15th. BMO Capital Markets cut their target price on Crown Castle from $100.00 to $95.00 and set an "outperform" rating on the stock in a research note on Monday, July 20th. Finally, Weiss Ratings restated a "hold (c-)" rating on shares of Crown Castle in a report on Friday, May 22nd. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $95.13.

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.

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