California Public Employees Retirement System Sells 13,676 Shares of Crown Castle Inc. (NYSE:CCI)

California Public Employees Retirement System lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 0.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,971,990 shares of the real estate investment trust's stock after selling 13,676 shares during the quarter. California Public Employees Retirement System owned approximately 0.45% of Crown Castle worth $178,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Accurate Wealth Management LLC boosted its stake in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock worth $205,000 after acquiring an additional 124 shares in the last quarter. Exchange Traded Concepts LLC raised its position in shares of Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock valued at $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc lifted its stake in shares of Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock worth $216,000 after buying an additional 133 shares during the last quarter. Howard Capital Management Inc. grew its stake in Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock valued at $1,041,000 after buying an additional 135 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust's stock worth $207,000 after acquiring an additional 137 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

Several brokerages have recently issued reports on CCI. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. BMO Capital Markets restated a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price for the company in a research note on Friday, March 14th. Finally, Argus upgraded shares of Crown Castle to a "hold" rating in a research report on Friday, March 21st. Eleven 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

Crown Castle Price Performance

CCI traded down $6.17 during midday trading on Friday, reaching $100.89. 4,772,543 shares of the company's stock were exchanged, compared to its average volume of 2,879,700. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. 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 business has a 50-day simple moving average of $95.67 and a two-hundred day simple moving average of $100.24. The firm has a market capitalization 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 declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is -69.71%.

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.