Alliancebernstein L.P. lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 651,568 shares of the real estate investment trust's stock after selling 32,813 shares during the quarter. Alliancebernstein L.P. owned about 0.15% of Crown Castle worth $59,136,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its position in shares of Crown Castle by 21.5% in the third quarter. Captrust Financial Advisors now owns 17,919 shares of the real estate investment trust's stock worth $2,126,000 after buying an additional 3,176 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in Crown Castle by 2,413.9% in the 3rd quarter. Benjamin Edwards Inc. now owns 11,061 shares of the real estate investment trust's stock worth $1,312,000 after purchasing an additional 10,621 shares during the last quarter. Integrated Wealth Concepts LLC boosted its position in Crown Castle by 9.4% during the third quarter. Integrated Wealth Concepts LLC now owns 6,458 shares of the real estate investment trust's stock worth $766,000 after purchasing an additional 555 shares during the period. IHT Wealth Management LLC grew its holdings in Crown Castle by 35.2% during the third quarter. IHT Wealth Management LLC now owns 5,016 shares of the real estate investment trust's stock valued at $596,000 after purchasing an additional 1,306 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Crown Castle by 72.2% in the third quarter. Quantinno Capital Management LP now owns 11,872 shares of the real estate investment trust's stock valued at $1,408,000 after purchasing an additional 4,979 shares during the period. Institutional investors and hedge funds own 90.77% of the company's stock.
Analysts Set New Price Targets
CCI has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Wells Fargo & Company raised shares of 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. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Jefferies Financial Group cut Crown Castle from a "buy" rating to a "hold" rating and cut their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Citigroup reaffirmed a "buy" rating on shares of Crown Castle in a report on Tuesday, March 25th. Eleven 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. Based on data from MarketBeat, Crown Castle has a consensus rating of "Moderate Buy" and an average price target of $110.00.
Check Out Our Latest Stock Report on CCI
Crown Castle Trading Down 1.0 %
Shares of Crown Castle stock traded down $0.97 during trading on Thursday, hitting $94.58. 1,206,704 shares of the company were exchanged, compared to its average volume of 2,907,264. The firm has a market capitalization of $41.18 billion, a P/E ratio of 33.64 and a beta of 0.93. The firm's fifty day moving average price is $96.29 and its 200 day moving average price is $99.51. 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 1-year low of $84.20 and a 1-year high of $120.92.
Crown Castle Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.62%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.
About Crown Castle
(
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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