Allspring Global Investments Holdings LLC Has $3.67 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Allspring Global Investments Holdings LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 13.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,031 shares of the real estate investment trust's stock after acquiring an additional 4,276 shares during the period. Allspring Global Investments Holdings LLC's holdings in Crown Castle were worth $3,665,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new position in Crown Castle during the 4th quarter valued at $561,714,000. Vanguard Group Inc. increased its stake in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the period. Wellington Management Group LLP increased its stake in Crown Castle by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock valued at $1,892,332,000 after buying an additional 3,321,249 shares during the period. National Bank of Canada FI increased its stake in Crown Castle by 37.3% during the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock valued at $525,849,000 after buying an additional 1,573,043 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Crown Castle during the fourth quarter worth approximately $95,167,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Insider Transactions at Crown Castle

In other news, VP Robert Sean Collins sold 3,600 shares of Crown Castle stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $106.72, for a total value of $384,192.00. Following the transaction, the vice president directly owned 6,465 shares in the company, valued at approximately $689,944.80. The trade was a 35.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Edward B. Adams, Jr. sold 8,000 shares of the business's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total transaction of $850,960.00. Following the transaction, the executive vice president directly owned 20,528 shares in the company, valued at $2,183,563.36. This trade represents a 28.04% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 31,600 shares of company stock worth $3,362,752. Company insiders own 0.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCI shares. KeyCorp lifted their target price on shares of Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Wells Fargo & Company raised shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Wolfe Research raised shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Raymond James Financial raised shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their target price for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. Finally, JMP Securities lifted their target price on shares of Crown Castle from $115.00 to $125.00 and gave the stock a "market outperform" rating in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $113.06.

Crown Castle Trading Up 0.7%

NYSE CCI traded up $0.76 during trading on Tuesday, reaching $102.61. The company's stock had a trading volume of 2,209,795 shares, compared to its average volume of 2,930,567. The stock has a market capitalization of $44.68 billion, a PE ratio of -9.54, a PEG ratio of 0.80 and a beta of 0.88. The business has a 50-day moving average price of $101.50 and a 200-day moving average price of $97.04. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.62). Crown Castle had a negative net margin of 78.12% and a negative return on equity of 164.40%. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the business earned $1.72 EPS. The company's revenue for the quarter was down 4.8% on a year-over-year basis. As a group, analysts expect that Crown Castle Inc. will post 6.67 earnings per share for the current year.

Crown Castle Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a $1.0625 dividend. This represents a $4.25 annualized dividend and a dividend yield of 4.14%. The ex-dividend date was Friday, June 13th. Crown Castle's dividend payout ratio is currently -39.50%.

About Crown Castle

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.