Crown Castle Inc. (NYSE:CCI) Stock Position Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 9.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,392,853 shares of the real estate investment trust's stock after selling 236,655 shares during the period. Bank of New York Mellon Corp owned about 0.55% of Crown Castle worth $217,175,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock worth $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Barclays PLC boosted its stake in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock worth $613,900,000 after purchasing an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC grew its stake in shares of Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust's stock valued at $603,592,000 after purchasing an additional 203,442 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

Shares of Crown Castle stock traded up $1.69 during trading on Monday, hitting $95.79. 1,706,909 shares of the stock traded hands, compared to its average volume of 2,523,038. The stock has a market cap of $41.63 billion, a price-to-earnings ratio of 33.97 and a beta of 0.88. The firm's fifty day moving average is $89.75 and its 200-day moving average is $102.32. 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 Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.54%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CCI. Jefferies Financial Group downgraded 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. JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They issued an "outperform" rating and a $115.00 target price for the company. Scotiabank decreased their price objective on shares of Crown Castle from $118.00 to $102.00 and set a "sector perform" rating for the company in a report on Thursday, January 23rd. Citigroup cut their price target on Crown Castle from $128.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. Finally, Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $108.75.

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.