Fiduciary Alliance LLC Trims Stock Position in Crown Castle Inc. (NYSE:CCI)

Fiduciary Alliance LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 71.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,478 shares of the real estate investment trust's stock after selling 63,401 shares during the quarter. Fiduciary Alliance LLC's holdings in Crown Castle were worth $2,312,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp grew its stake in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the period. Wellington Management Group LLP grew its position in Crown Castle by 23.8% in 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 purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC raised its stake in Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust's stock valued at $1,434,229,000 after buying an additional 151,990 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust's stock valued at $603,518,000 after buying an additional 67,072 shares during the period. Finally, Barclays PLC boosted its stake in shares of Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust's stock worth $613,900,000 after buying an additional 348,296 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 1.3 %

Crown Castle stock traded up $1.13 during midday trading on Monday, hitting $85.46. 4,524,739 shares of the company's stock were exchanged, compared to its average volume of 3,138,404. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $37.14 billion, a PE ratio of 30.31 and a beta of 0.87. The firm has a 50-day moving average of $98.01 and a two-hundred day moving average of $105.89. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle (NYSE:CCI - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion during the quarter, compared to analysts' expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 earnings per share. As a group, analysts expect that Crown Castle Inc. will post 6.66 earnings per share for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.33%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on CCI shares. Wells Fargo & Company downgraded Crown Castle from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. Royal Bank of Canada increased their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the stock a "sector perform" rating in a research note on Monday, October 28th. UBS Group raised their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Barclays raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and reduced their target price for the company from $117.00 to $104.00 in a report on Monday. Finally, Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and dropped their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of "Hold" and an average target price of $113.00.

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.