Maryland State Retirement & Pension System Sells 10,051 Shares of Crown Castle Inc. (NYSE:CCI)

Maryland State Retirement & Pension System reduced its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 381,700 shares of the real estate investment trust's stock after selling 10,051 shares during the period. Crown Castle makes up about 0.7% of Maryland State Retirement & Pension System's investment portfolio, making the stock its 24th biggest position. Maryland State Retirement & Pension System owned approximately 0.09% of Crown Castle worth $34,643,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Intech Investment Management LLC boosted its stake in shares of Crown Castle by 212.5% in the 4th quarter. Intech Investment Management LLC now owns 13,658 shares of the real estate investment trust's stock worth $1,240,000 after buying an additional 9,288 shares during the last quarter. Generali Asset Management SPA SGR purchased a new position in Crown Castle during the fourth quarter valued at $3,016,000. Advisors Asset Management Inc. lifted its position in Crown Castle by 3.1% during the fourth quarter. Advisors Asset Management Inc. now owns 150,863 shares of the real estate investment trust's stock valued at $13,692,000 after purchasing an additional 4,529 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its position in Crown Castle by 44.1% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 6,107 shares of the real estate investment trust's stock valued at $554,000 after purchasing an additional 1,870 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in Crown Castle by 3,827.5% during the fourth quarter. Parallel Advisors LLC now owns 183,965 shares of the real estate investment trust's stock valued at $16,697,000 after purchasing an additional 179,281 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

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Crown Castle Trading Up 1.9 %

NYSE CCI traded up $2.02 during trading hours on Friday, hitting $106.61. 9,214,451 shares of the company were exchanged, compared to its average volume of 2,640,163. The stock has a 50-day moving average price of $92.77 and a 200 day moving average price of $101.13. 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 Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $46.42 billion, a PE ratio of 37.81 and a beta of 0.89.

Crown Castle Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on CCI shares. Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their target price for the company from $128.00 to $122.00 in a research report on Friday, March 14th. JPMorgan Chase & Co. lowered their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an "outperform" rating and a $115.00 price objective on the stock. Wolfe Research upgraded Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. Eleven equities research 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 company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $110.00.

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.