Commerce Bank Sells 14,104 Shares of Crown Castle Inc. (NYSE:CCI)

Commerce Bank cut its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,268 shares of the real estate investment trust's stock after selling 14,104 shares during the period. Commerce Bank's holdings in Crown Castle were worth $4,199,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of CCI. Versor Investments LP raised its position in Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust's stock valued at $767,000 after purchasing an additional 4,608 shares in the last quarter. Nordea Investment Management AB raised its holdings 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 worth $113,465,000 after buying an additional 282,821 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the fourth quarter valued at about $1,231,000. Avanza Fonder AB bought a new position in Crown Castle in the fourth quarter valued at about $3,083,000. Finally, American Century Companies Inc. raised its stake in Crown Castle by 3.4% during the fourth quarter. American Century Companies Inc. now owns 144,766 shares of the real estate investment trust's stock worth $13,139,000 after acquiring an additional 4,772 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Down 0.6 %

NYSE CCI traded down $0.57 on Friday, reaching $100.18. The company had a trading volume of 1,716,710 shares, compared to its average volume of 2,880,033. 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 company's fifty day moving average is $99.02 and its 200 day moving average is $98.42. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock has a market capitalization of $43.62 billion, a P/E ratio of 35.52 and a beta of 0.93.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.25%. The ex-dividend date was Friday, March 14th. Crown Castle's payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CCI. StockNews.com raised shares of Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. UBS Group raised shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price on the stock in a research note on Friday, March 14th. Barclays increased their price target on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. JPMorgan Chase & Co. lowered their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Finally, KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target on the stock in a research note on Friday, March 14th. Twelve 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $110.47.

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.