Deutsche Bank AG Invests $429.34 Million in Crown Castle Inc. $CCI

Key Points

• Deutsche Bank AG acquired 5.67 million Crown Castle shares worth approximately $429.3 million, giving it a 1.30% stake. Institutional investors collectively own 90.77% of the company.
• Crown Castle shares opened at $74.45, near the lower end of their 12-month range, while the company announced a quarterly dividend of $1.0625 per share, equivalent to a 5.7% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $95.13, although JPMorgan and Truist recently lowered their targets and assigned neutral or hold ratings.

Deutsche Bank AG bought a new stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,669,365 shares of the real estate investment trust's stock, valued at approximately $429,341,000. Deutsche Bank AG owned approximately 1.30% of Crown Castle at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CCI. Wiser Advisor Group LLC purchased a new position in Crown Castle in the third quarter worth about $29,000. Triumph Capital Management purchased a new stake in Crown Castle during the third quarter valued at approximately $31,000. Hilton Head Capital Partners LLC raised its position in 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 valued at $31,000 after purchasing an additional 134 shares during the period. Salomon & Ludwin LLC lifted its stake in shares of Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 215 shares during the last quarter. Finally, MV Capital Management Inc. bought a new stake in shares of Crown Castle in the 4th quarter valued at approximately $34,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Down 2.0%

Shares of NYSE CCI opened at $74.45 on Tuesday. Crown Castle Inc. has a twelve month low of $69.72 and a twelve month high of $104.61. The firm has a market cap of $31.67 billion, a PE ratio of 37.79, a price-to-earnings-growth ratio of 0.40 and a beta of 0.95. The business has a fifty day simple moving average of $79.27 and a two-hundred day simple moving average of $84.41.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $1.0625 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $4.25 dividend on an annualized basis and a yield of 5.7%. Crown Castle's dividend payout ratio (DPR) is 215.74%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCI shares. JPMorgan Chase & Co. cut their target price on Crown Castle from $95.00 to $85.00 and set a "neutral" rating on the stock in a research report on Thursday, July 23rd. Truist Financial lowered their price target on Crown Castle from $95.00 to $87.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Citigroup reaffirmed a "market outperform" rating on shares of Crown Castle in a research note on Friday, July 24th. KeyCorp boosted their price objective on shares of Crown Castle from $98.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, April 23rd. Finally, Raymond James Financial increased their target price on shares of Crown Castle from $102.00 to $108.00 and gave the company a "strong-buy" rating in a research note on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.13.

Insider Activity at Crown Castle

In other news, VP Robert Sean Collins sold 1,500 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $75.89, for a total value of $113,835.00. Following the completion of the sale, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This represents a 22.68% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate 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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