Commonwealth Equity Services LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 8.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,402 shares of the real estate investment trust's stock after selling 6,151 shares during the quarter. Commonwealth Equity Services LLC's holdings in Crown Castle were worth $6,299,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. HBK Sorce Advisory LLC grew its stake in shares of Crown Castle by 7.5% during the fourth quarter. HBK Sorce Advisory LLC now owns 2,474 shares of the real estate investment trust's stock worth $225,000 after acquiring an additional 173 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Crown Castle by 1.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 106,912 shares of the real estate investment trust's stock valued at $9,703,000 after purchasing an additional 1,349 shares in the last quarter. Truvestments Capital LLC increased its stake in Crown Castle by 9.0% during the 4th quarter. Truvestments Capital LLC now owns 25,464 shares of the real estate investment trust's stock valued at $2,311,000 after purchasing an additional 2,098 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Crown Castle by 84.2% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,831 shares of the real estate investment trust's stock worth $257,000 after acquiring an additional 1,294 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Crown Castle by 15.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,701 shares of the real estate investment trust's stock worth $880,000 after acquiring an additional 1,272 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have recently issued reports on CCI shares. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Citigroup lifted their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, March 14th. Barclays increased their price objective on shares of Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research note on Monday, March 17th. KeyCorp upgraded shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 target price for the company in a research report on Friday, March 14th. Finally, Wells Fargo & Company raised Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.00.
Check Out Our Latest Research Report on Crown Castle
Crown Castle Price Performance
CCI traded up $0.59 during midday trading on Wednesday, hitting $101.04. 2,785,873 shares of the company traded hands, compared to its average volume of 2,661,886. The company has a market capitalization of $44.00 billion, a price-to-earnings ratio of 35.83 and a beta of 0.89. The business has a 50 day simple moving average of $93.42 and a two-hundred day simple moving average of $100.86. The company has a current ratio of 0.54, a quick 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 company 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 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's payout ratio is -69.71%.
Crown Castle Profile
(
Free Report)
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.
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