Huntington National Bank Reduces Position in Crown Castle Inc. (NYSE:CCI)

Huntington National Bank lessened its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 32.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 75,580 shares of the real estate investment trust's stock after selling 36,868 shares during the period. Huntington National Bank's holdings in Crown Castle were worth $6,860,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Twin Tree Management LP bought a new stake in shares of Crown Castle during the fourth quarter worth $25,000. FNY Investment Advisers LLC grew 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 worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Crown Castle in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CCI shares. 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 report on Friday, March 14th. Jefferies Financial Group lowered shares of Crown Castle from a "buy" rating to a "hold" rating and cut their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Scotiabank cut their target price on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating on the stock in a research note on Friday, March 14th. Finally, KeyCorp raised shares of Crown Castle from a "sector weight" rating to an "overweight" rating and set a $120.00 price target for the company in a research report on Friday, March 14th. Eleven 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.00.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $1.34 during midday trading on Tuesday, reaching $96.87. The company's stock had a trading volume of 1,514,951 shares, compared to its average volume of 2,882,516. The stock has a fifty day moving average of $95.79 and a 200 day moving average of $99.86. The firm has a market capitalization of $42.18 billion, a PE ratio of 34.40 and a beta of 0.93. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month 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. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.46%. The ex-dividend date was Friday, March 14th. Crown Castle's dividend payout ratio is currently -69.71%.

Crown Castle Company 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.