Garrison Bradford & Associates Inc. Acquires 16,405 Shares of Crown Castle Inc. $CCI

Key Points

• Garrison Bradford & Associates increased its Crown Castle stake by 156.6% in the second quarter, acquiring 16,405 additional shares and bringing its holdings to 26,880 shares worth approximately $2.04 million. Institutional investors collectively own 90.77% of CCI.
• Analysts maintain a generally positive view, with Crown Castle receiving a “Moderate Buy” consensus rating and an average price target of $95.13 versus its recent price of $75.75.
• Crown Castle declared a quarterly dividend of $1.0625 per share, equivalent to a 5.6% annualized yield, though its payout ratio is elevated at 215.74%. Separately, company vice president Robert Sean Collins sold 1,500 shares.

Garrison Bradford & Associates Inc. raised its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 156.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,880 shares of the real estate investment trust's stock after buying an additional 16,405 shares during the quarter. Crown Castle comprises 2.2% of Garrison Bradford & Associates Inc.'s investment portfolio, making the stock its 18th largest position. Garrison Bradford & Associates Inc.'s holdings in Crown Castle were worth $2,036,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wiser Advisor Group LLC bought a new position in Crown Castle in the 3rd quarter worth $29,000. Hilton Head Capital Partners LLC raised its stake in Crown Castle by 55.6% in 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 bought a new stake in Crown Castle during the 3rd quarter valued at approximately $31,000. Global Assets Advisory LLC bought a new position in shares of Crown Castle in the 1st quarter worth approximately $32,000. Finally, 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 period. Institutional investors own 90.77% of the company's stock.

Insider Buying and Selling at Crown Castle

In related news, VP Robert Sean Collins sold 1,500 shares of the firm'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 transaction, the vice president owned 5,113 shares of the company's stock, valued at approximately $388,025.57. This trade represents a 22.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.09% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCI. Citigroup reiterated a "market outperform" rating on shares of Crown Castle in a report on Friday, July 24th. BMO Capital Markets cut their price target 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. KeyCorp boosted their target price on Crown Castle from $98.00 to $105.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. TD Cowen lowered their price target on Crown Castle from $94.00 to $92.00 and set a "buy" rating for the company in a research report on Thursday, July 23rd. Finally, Citizens Jmp cut their price objective on shares of Crown Castle from $125.00 to $120.00 and set a "market outperform" rating on the stock in a research report on Friday, July 24th. Two investment 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $95.13.

Crown Castle Price Performance

NYSE CCI opened at $75.75 on Friday. Crown Castle Inc. has a 1-year low of $69.72 and a 1-year high of $104.61. The stock has a market capitalization of $32.23 billion, a price-to-earnings ratio of 38.45, a PEG ratio of 0.39 and a beta of 0.95. The business's fifty day moving average price is $79.98 and its 200-day moving average price is $84.58.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 5.6%. Crown Castle's dividend payout ratio is presently 215.74%.

Crown Castle Company 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.

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