Oppenheimer & Co. Inc. Sells 5,029 Shares of Crown Castle Inc. (NYSE:CCI)

Oppenheimer & Co. Inc. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 17.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,628 shares of the real estate investment trust's stock after selling 5,029 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Crown Castle were worth $2,144,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle in the 3rd quarter valued at about $25,000. FNY Investment Advisers LLC lifted its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Crown Castle during the 4th quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle during the 3rd quarter worth approximately $47,000. Finally, Investors Research Corp increased its holdings in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 154 shares during the last quarter. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Barclays upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and decreased their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an "outperform" rating and a $115.00 price objective for the company. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Finally, Scotiabank dropped their price target on Crown Castle from $118.00 to $102.00 and set a "sector perform" rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle currently has an average rating of "Hold" and an average target price of $108.75.

Crown Castle Stock Up 1.8 %

CCI traded up $1.69 during midday trading on Monday, hitting $95.79. The company had a trading volume of 2,161,974 shares, compared to its average volume of 2,531,687. The company has a market capitalization of $41.63 billion, a price-to-earnings ratio of 33.97 and a beta of 0.88. The stock's 50 day moving average price is $89.75 and its 200 day moving average price is $102.32. The company has a quick ratio of 0.54, a current 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.54%. Crown Castle's payout ratio is currently 221.99%.

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.