MainStreet Investment Advisors LLC Sells 3,358 Shares of Crown Castle Inc. (NYSE:CCI)

MainStreet Investment Advisors LLC decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 12.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,747 shares of the real estate investment trust's stock after selling 3,358 shares during the quarter. MainStreet Investment Advisors LLC's holdings in Crown Castle were worth $2,065,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Crown Castle by 10.5% in 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 in the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 18.9% in 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 in the last quarter. Geode Capital Management LLC lifted its holdings in Crown Castle by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock worth $1,119,225,000 after purchasing an additional 228,007 shares during the last quarter. Norges Bank acquired a new stake in Crown Castle in the 4th quarter worth approximately $561,714,000. Finally, The Manufacturers Life Insurance Company lifted its holdings in Crown Castle by 1.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 6,144,359 shares of the real estate investment trust's stock worth $557,662,000 after purchasing an additional 58,903 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Insider Activity at Crown Castle

In related news, EVP Edward B. Adams, Jr. sold 8,000 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $106.37, for a total value of $850,960.00. Following the completion of the transaction, the executive vice president now directly owns 20,528 shares in the company, valued at approximately $2,183,563.36. This represents a 28.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Daniel K. Schlanger sold 20,000 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $106.38, for a total value of $2,127,600.00. Following the completion of the transaction, the chief executive officer now owns 110,571 shares of the company's stock, valued at $11,762,542.98. The trade was a 15.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,600 shares of company stock worth $3,362,752. 0.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. Bank of America assumed coverage on Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price for the company. Finally, KeyCorp boosted their target price on Crown Castle from $120.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $112.41.

Crown Castle Stock Down 2.1%

Shares of CCI stock opened at $98.35 on Wednesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a market cap of $42.82 billion, a PE ratio of 34.88 and a beta of 0.93. The stock has a 50 day moving average of $101.64 and a 200-day moving average of $97.71. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, April 30th. The real estate investment trust reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.62). The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.04 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The business's revenue for the quarter was down 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.72 earnings per share. On average, equities analysts predict that Crown Castle Inc. will post 6.67 EPS for the current year.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.37%. Crown Castle's payout ratio is -58.18%.

Crown Castle Company Profile

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.

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