Corient Private Wealth LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 19.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 316,578 shares of the real estate investment trust's stock after selling 74,327 shares during the quarter. Corient Private Wealth LLC owned 0.07% of Crown Castle worth $28,733,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp increased its holdings in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock valued at $2,476,470,000 after buying an additional 747,390 shares during the period. Wellington Management Group LLP boosted its position in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust's stock worth $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its stake in Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock valued at $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Fisher Asset Management LLC raised its position in Crown Castle by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust's stock valued at $473,625,000 after purchasing an additional 130,414 shares in the last quarter. Finally, Barclays PLC lifted its stake in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock worth $613,900,000 after purchasing an additional 348,296 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.
Crown Castle Trading Up 1.9 %
Shares of Crown Castle stock traded up $2.02 during midday trading on Friday, reaching $106.61. The company had a trading volume of 9,214,451 shares, compared to its average volume of 2,636,860. The firm has a market cap of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89. The stock has a fifty day moving average price of $92.77 and a 200 day moving average price of $101.21. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.
Crown Castle Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.
Analyst Upgrades and Downgrades
CCI has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price on the stock in a research report on Friday, March 14th. JPMorgan Chase & Co. dropped their target price on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Barclays lifted their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a report on Monday, March 17th. Finally, Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and cut their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Eleven equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.
Check Out Our Latest Research Report on CCI
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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