Crown Castle Inc. (NYSE:CCI) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 9.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,453 shares of the real estate investment trust's stock after selling 6,122 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Crown Castle were worth $5,305,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its holdings in shares of 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 purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle in the fourth quarter valued at $37,000. Investors Research Corp lifted its holdings in 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 buying an additional 154 shares during the last quarter. Marshall Investment Management LLC purchased a new stake in Crown Castle during the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle during the 4th quarter worth about $53,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Price Performance

CCI traded up $2.02 during midday trading on Friday, reaching $106.61. 9,214,451 shares of the company's stock were exchanged, compared to its average volume of 2,636,860. The business's 50-day moving average price is $92.77 and its 200 day moving average price is $101.21. The stock has a market capitalization of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

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Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wolfe Research raised shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Citigroup raised their price objective on Crown Castle from $106.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, March 14th. JPMorgan Chase & Co. reduced their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Raymond James upgraded 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 research note on Friday, March 14th. Finally, 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 note on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $110.00.

Crown Castle 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.