Crown Castle Inc. $CCI Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Crown Castle position by 89.2% in the second quarter, selling 44,818 shares and retaining 5,407 shares valued at approximately $414,000. Institutional investors and hedge funds collectively own 90.77% of CCI.
• Analyst sentiment remains favorable, with Crown Castle carrying a “Moderate Buy” consensus rating and an average price target of $95.13, compared with a recent share price of $75.75.
• Crown Castle declared a quarterly dividend of $1.0625, equal to $4.25 annually and a 5.6% yield. The dividend’s payout ratio is high at 215.74%.

TD Waterhouse Canada Inc. cut its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 89.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,407 shares of the real estate investment trust's stock after selling 44,818 shares during the period. TD Waterhouse Canada Inc.'s holdings in Crown Castle were worth $414,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Tema ETFs LLC increased its holdings in Crown Castle by 16.3% in the second quarter. Tema ETFs LLC now owns 9,191 shares of the real estate investment trust's stock valued at $696,000 after buying an additional 1,287 shares during the last quarter. Handelsbanken Fonder AB raised its stake in Crown Castle by 6.0% in the second quarter. Handelsbanken Fonder AB now owns 234,452 shares of the real estate investment trust's stock valued at $17,755,000 after buying an additional 13,205 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in Crown Castle by 14.8% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 3,133 shares of the real estate investment trust's stock worth $237,000 after buying an additional 404 shares during the last quarter. Everhart Financial Group Inc. lifted its holdings in Crown Castle by 2.7% during the 2nd quarter. Everhart Financial Group Inc. now owns 5,856 shares of the real estate investment trust's stock worth $443,000 after buying an additional 153 shares during the last quarter. Finally, Czech National Bank boosted its position in shares of Crown Castle by 4.7% during the 2nd quarter. Czech National Bank now owns 124,231 shares of the real estate investment trust's stock worth $9,408,000 after acquiring an additional 5,630 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCI has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price objective on Crown Castle from $92.00 to $90.00 and set an "outperform" rating on the stock in a report on Thursday, July 23rd. Raymond James Financial boosted their target price on Crown Castle from $102.00 to $108.00 and gave the stock a "strong-buy" rating in a research note on Thursday, April 23rd. KeyCorp upped their price target on Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a report on Thursday, April 23rd. Wall Street Zen upgraded shares of Crown Castle from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. Finally, TD Cowen cut their price objective on shares of Crown Castle from $94.00 to $92.00 and set a "buy" rating on the stock in a report on Thursday, July 23rd. Two equities research 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 company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $95.13.

Crown Castle Stock Performance

Shares of CCI stock opened at $75.75 on Friday. The stock's 50-day moving average is $79.98 and its two-hundred day moving average is $84.58. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 0.39 and a beta of 0.95. Crown Castle Inc. has a 1 year low of $69.72 and a 1 year high of $104.61.

Crown Castle Announces Dividend

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

Insider Buying and Selling at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $75.89, for a total value of $113,835.00. Following the transaction, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. The trade was a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.09% of the company's stock.

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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