Cornerstone Capital Inc. Has $5.52 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Cornerstone Capital Inc. lessened its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 21.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,846 shares of the real estate investment trust's stock after selling 16,498 shares during the period. Cornerstone Capital Inc.'s holdings in Crown Castle were worth $5,522,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC bought a new position in Crown Castle during the fourth quarter worth $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle in the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Crown Castle in the fourth quarter valued at about $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Down 0.7 %

NYSE CCI traded down $0.76 on Thursday, hitting $101.52. The company's stock had a trading volume of 1,565,270 shares, compared to its average volume of 3,368,043. The company's 50-day moving average is $98.55 and its 200 day moving average is $98.58. The firm has a market cap of $44.21 billion, a PE ratio of 36.00 and a beta of 0.93. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.17%. Crown Castle's payout ratio is -69.71%.

Analysts Set New Price Targets

A number of research analysts recently commented on CCI shares. KeyCorp upgraded shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target on the stock in a research note on Friday, March 14th. Raymond James raised Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their price target for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Scotiabank upped their price objective on Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a report on Tuesday. Citigroup reissued a "buy" rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, Barclays raised their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a research report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.47.

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.