B. Metzler seel. Sohn & Co. AG Sells 24,603 Shares of Crown Castle Inc. (NYSE:CCI)

B. Metzler seel. Sohn & Co. AG reduced its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 35.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 43,884 shares of the real estate investment trust's stock after selling 24,603 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Crown Castle were worth $3,983,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Summit Financial LLC increased its holdings in Crown Castle by 14.2% in the fourth quarter. Summit Financial LLC now owns 5,889 shares of the real estate investment trust's stock valued at $534,000 after purchasing an additional 730 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 18.9% in the fourth 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 during the period. Bcwm LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at about $3,221,000. Summit Securities Group LLC raised its position in shares of Crown Castle by 367.0% during the fourth quarter. Summit Securities Group LLC now owns 1,401 shares of the real estate investment trust's stock worth $127,000 after acquiring an additional 1,101 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Crown Castle by 34.1% in the fourth quarter. Schroder Investment Management Group now owns 117,827 shares of the real estate investment trust's stock worth $10,579,000 after acquiring an additional 29,973 shares during the period. Institutional investors own 90.77% of the company's stock.

Remove Ads

Analyst Ratings Changes

Several research analysts have issued reports on CCI shares. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Moffett Nathanson cut their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a research report on Friday, March 14th. Finally, Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Crown Castle Stock Down 5.8 %

CCI stock traded down $6.17 during midday trading on Friday, reaching $100.89. 4,772,543 shares of the company's stock traded hands, compared to its average volume of 2,880,876. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm's fifty day moving average price is $95.67 and its 200-day moving average price is $100.11. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Crown Castle 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.