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Tue, Jan 23, 6:55 AM, Zacks
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| Get An Even Better Deal On CCI Than Director Stephens DidBy Dividend Channel Staff, Thursday, May 11, 11:30 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on May 2, Crown Castle Inc's Director, Kevin A. Stephens, invested $117,996.00 into 1,000 shares of CCI, for a cost per share of $118.00. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money. In trading on Thursday, bargain hunters could buy shares of Crown Castle Inc (NYSE:CCI) and achieve a cost basis 2.3% cheaper than Stephens, with shares changing hands as low as $115.26 per share. Crown Castle Inc shares are currently trading off about 1.9% on the day. The chart below shows the one year performance of CCI shares, versus its 200 day moving average:
Looking at the chart above, CCI's low point in its 52 week range is $114.431 per share, with $193.95 as the 52 week high point — that compares with a last trade of $116.83. By comparison, below is a table showing the prices at which CCI insider buying was recorded over the last six months:
The current annualized dividend paid by Crown Castle Inc is $6.26/share, currently paid in quarterly installments, and its most recent dividend has an upcoming ex-date of 06/14/2023. Below is a long-term dividend history chart for CCI, which can be of good help in judging whether the most recent dividend with approx. 5.3% annualized yield is likely to continue.
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