Adage Capital Partners GP L.L.C. Sells 38,600 Shares of Crown Castle Inc. (NYSE:CCI)

Adage Capital Partners GP L.L.C. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 371,060 shares of the real estate investment trust's stock after selling 38,600 shares during the period. Adage Capital Partners GP L.L.C. owned 0.09% of Crown Castle worth $33,677,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in CCI. MGO One Seven LLC lifted its stake in Crown Castle by 10.8% in the fourth quarter. MGO One Seven LLC now owns 8,141 shares of the real estate investment trust's stock valued at $739,000 after acquiring an additional 793 shares during the last quarter. Dark Forest Capital Management LP lifted its stake in Crown Castle by 445.1% in the 4th quarter. Dark Forest Capital Management LP now owns 33,246 shares of the real estate investment trust's stock valued at $3,017,000 after purchasing an additional 27,147 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Crown Castle by 5.2% during the fourth quarter. Hsbc Holdings PLC now owns 1,813,953 shares of the real estate investment trust's stock worth $164,392,000 after purchasing an additional 88,848 shares during the period. Soros Capital Management LLC grew its holdings in Crown Castle by 8.5% during the fourth quarter. Soros Capital Management LLC now owns 26,898 shares of the real estate investment trust's stock worth $2,441,000 after purchasing an additional 2,097 shares during the period. Finally, Sharpepoint LLC acquired a new position in Crown Castle during the fourth quarter worth approximately $225,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of NYSE CCI traded down $0.57 during mid-day trading on Friday, reaching $100.18. The company had a trading volume of 1,716,710 shares, compared to its average volume of 2,880,766. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 35.52 and a beta of 0.93. The business's 50-day simple moving average is $99.02 and its 200 day simple moving average is $98.25. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.25%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCI. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and reduced their target price for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Scotiabank upped their price objective on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday, April 22nd. Argus raised shares of Crown Castle to a "hold" rating in a research report on Friday, March 21st. StockNews.com raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Finally, Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $110.47.

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.