ClearBridge Investments Ltd Has $145.36 Million Holdings in Crown Castle Inc. (NYSE:CCI)

ClearBridge Investments Ltd cut its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 23.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,601,564 shares of the real estate investment trust's stock after selling 493,748 shares during the quarter. Crown Castle comprises 3.8% of ClearBridge Investments Ltd's investment portfolio, making the stock its 13th largest holding. ClearBridge Investments Ltd owned approximately 0.37% of Crown Castle worth $145,358,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Crown Castle in the fourth quarter valued at $561,714,000. Vanguard Group Inc. raised its stake in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after buying an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP lifted its holdings 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 during the period. Raymond James Financial Inc. acquired a new stake in shares of Crown Castle during the 4th quarter valued at about $95,167,000. Finally, State Street Corp grew its stake in shares of 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 purchasing an additional 747,390 shares during the period. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCI has been the topic of several recent analyst reports. KeyCorp raised Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 target price on the stock in a report on Friday, March 14th. UBS Group upgraded Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and lowered their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $110.00.

Crown Castle Stock Performance

Crown Castle stock traded up $1.68 during midday trading on Thursday, hitting $105.49. The company's stock had a trading volume of 2,021,046 shares, compared to its average volume of 2,857,914. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market cap of $45.93 billion, a price-to-earnings ratio of 37.41 and a beta of 0.89. The company has a 50-day moving average price of $95.06 and a two-hundred day moving average price of $100.33. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is currently -69.71%.

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.