Anchor Capital Advisors LLC Sells 8,835 Shares of Crown Castle Inc. (NYSE:CCI)

Anchor Capital Advisors LLC cut its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 319,413 shares of the real estate investment trust's stock after selling 8,835 shares during the quarter. Anchor Capital Advisors LLC owned about 0.07% of Crown Castle worth $28,990,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. AMF Tjanstepension AB lifted its stake in Crown Castle by 11.7% during the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust's stock valued at $19,835,000 after purchasing an additional 17,524 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Crown Castle by 3.7% in the third quarter. Assenagon Asset Management S.A. now owns 18,667 shares of the real estate investment trust's stock valued at $2,214,000 after buying an additional 671 shares in the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Crown Castle during the 3rd quarter valued at $205,000. Integrated Advisors Network LLC boosted its stake in shares of Crown Castle by 24.5% during the 3rd quarter. Integrated Advisors Network LLC now owns 5,027 shares of the real estate investment trust's stock worth $596,000 after acquiring an additional 988 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in shares of Crown Castle by 239.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 10,840 shares of the real estate investment trust's stock worth $1,286,000 after acquiring an additional 7,647 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the subject of several analyst reports. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Moffett Nathanson cut their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Barclays upgraded shares of Crown Castle from an "equal weight" rating to an "overweight" rating and decreased their target price for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target on shares of Crown Castle from $100.00 to $85.00 and set an "underweight" rating for the company in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of "Hold" and an average price target of $108.75.

Crown Castle Stock Up 1.2 %

CCI traded up $1.11 during trading on Monday, reaching $95.21. 415,694 shares of the stock traded hands, compared to its average volume of 2,761,105. 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. The stock's 50-day simple moving average is $89.75 and its two-hundred day simple moving average is $102.32. The stock has a market cap of $41.38 billion, a price-to-earnings ratio of 33.76 and a beta of 0.88.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.57%. Crown Castle's payout ratio is 221.99%.

About Crown Castle

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.