Crown Castle Inc. (NYSE:CCI) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 54.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 686,010 shares of the real estate investment trust's stock after selling 834,493 shares during the period. Bank of Montreal Can owned approximately 0.16% of Crown Castle worth $62,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in Crown Castle in the fourth quarter valued at $25,000. FNY Investment Advisers LLC raised its holdings in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter worth approximately $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle in the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Crown Castle in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Stock Up 1.0 %

Shares of CCI stock traded up $1.03 during trading hours on Tuesday, hitting $100.87. 860,487 shares of the company were exchanged, compared to its average volume of 2,914,243. The business's 50-day simple moving average is $96.76 and its two-hundred day simple moving average is $98.99. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The stock has a market capitalization of $43.92 billion, a price-to-earnings ratio of 35.77 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

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Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.21%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

CCI has been the subject of several research reports. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Argus raised Crown Castle to a "hold" rating in a research note on Friday, March 21st. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Barclays boosted their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. Finally, Royal Bank of Canada cut their price target on Crown Castle from $109.00 to $107.00 and set a "sector perform" rating on the stock in a research note on Friday. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $109.88.

About Crown Castle

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.