Capital World Investors Sells 7,269,146 Shares of Crown Castle Inc. (NYSE:CCI)

Capital World Investors trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 64.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,930,619 shares of the real estate investment trust's stock after selling 7,269,146 shares during the period. Capital World Investors owned approximately 0.90% of Crown Castle worth $356,743,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on CCI shares. Scotiabank upped their price target on shares of Crown Castle from $99.00 to $109.00 and gave the stock a "sector perform" rating in a research report on Tuesday. Raymond James upgraded shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Royal Bank of Canada dropped their price objective on Crown Castle from $109.00 to $107.00 and set a "sector perform" rating for the company in a research report on Friday, April 11th. Bank of America began coverage on shares of Crown Castle in a research note on Thursday, March 20th. They set a "neutral" rating and a $110.00 target price on the stock. Finally, Citigroup reiterated a "buy" rating on shares of Crown Castle in a report on Tuesday, March 25th. Twelve investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus price target of $110.47.

Crown Castle Stock Down 0.6 %

Shares of NYSE CCI traded down $0.57 during midday trading on Friday, hitting $100.18. 1,716,710 shares of the stock traded hands, compared to its average volume of 2,880,033. 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 Inc. has a one year low of $84.20 and a one year high of $120.92. The business has a 50 day moving average price of $99.02 and a two-hundred day moving average price of $98.42. The company has a market cap of $43.62 billion, a PE ratio of 35.52 and a beta of 0.93.

Crown Castle Dividend Announcement

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