Centersquare Investment Management LLC reduced its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 54.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 59,060 shares of the real estate investment trust's stock after selling 71,677 shares during the period. Centersquare Investment Management LLC's holdings in Crown Castle were worth $5,360,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Tree Management LP acquired a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle in the 4th quarter worth $37,000. Marshall Investment Management LLC purchased a new position in Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the 4th quarter valued at about $53,000. Hedge funds and other institutional investors own 90.77% of the company's stock.
Analyst Upgrades and Downgrades
CCI has been the topic of a number of research analyst reports. JMP Securities assumed coverage on Crown Castle in a research note on Monday, January 27th. They set an "outperform" rating and a $115.00 price target on the stock. Moffett Nathanson lowered their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Bank of America started coverage on Crown Castle in a research report on Thursday, March 20th. They issued a "neutral" rating and a $110.00 target price on the stock. KeyCorp upgraded Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price objective for the company in a research note on Friday, March 14th. Finally, Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and decreased their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.00.
Read Our Latest Report on CCI
Crown Castle Price Performance
Shares of Crown Castle stock traded down $6.17 on Friday, reaching $100.89. The company's stock had a trading volume of 4,772,543 shares, compared to its average volume of 2,880,876. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a market capitalization of $43.93 billion, a P/E ratio of 35.78 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a 50-day moving average price of $95.67 and a 200-day moving average price of $99.98.
Crown Castle Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio 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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