Crown Castle Inc. (NYSE:CCI) Position Trimmed by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,686 shares of the real estate investment trust's stock after selling 3,576 shares during the quarter. CIBC Private Wealth Group LLC's holdings in Crown Castle were worth $498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Versor Investments LP increased its stake in shares of Crown Castle by 120.0% during the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock valued at $767,000 after acquiring an additional 4,608 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust's stock valued at $113,465,000 after acquiring an additional 282,821 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Crown Castle during the 4th quarter valued at about $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle during the 4th quarter valued at about $3,083,000. Finally, American Century Companies Inc. increased its stake in shares of Crown Castle by 3.4% during the 4th quarter. American Century Companies Inc. now owns 144,766 shares of the real estate investment trust's stock valued at $13,139,000 after acquiring an additional 4,772 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CCI. Wells Fargo & Company raised shares of Crown Castle from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Jefferies Financial Group cut Crown Castle from a "buy" rating to a "hold" rating and reduced their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. JPMorgan Chase & Co. reduced their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research note on Monday, March 17th. Bank of America assumed coverage on shares of Crown Castle in a report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 price objective for the company. Finally, Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $110.00.

Crown Castle Price Performance

Crown Castle stock traded down $0.39 during midday trading on Thursday, hitting $95.15. The company's stock had a trading volume of 1,088,675 shares, compared to its average volume of 2,906,762. 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 stock's 50-day moving average price is $96.29 and its 200-day moving average price is $99.51. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market capitalization of $41.43 billion, a PE ratio of 33.81 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.58%. Crown Castle's dividend payout ratio is currently -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.