Legal & General Group Plc Sells 690,144 Shares of Crown Castle Inc. (NYSE:CCI)

Legal & General Group Plc lowered its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 11.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,207,318 shares of the real estate investment trust's stock after selling 690,144 shares during the period. Legal & General Group Plc owned approximately 1.20% of Crown Castle worth $472,616,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of CCI. Accurate Wealth Management LLC grew its position in shares of Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust's stock worth $205,000 after buying an additional 124 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Crown Castle by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust's stock valued at $103,000 after acquiring an additional 126 shares during the period. IFP Advisors Inc boosted its stake in Crown Castle by 5.9% during the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust's stock worth $216,000 after acquiring an additional 133 shares during the last quarter. Howard Capital Management Inc. grew its holdings in Crown Castle by 1.2% during the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust's stock valued at $1,041,000 after purchasing an additional 135 shares during the period. Finally, Cidel Asset Management Inc. increased its stake in Crown Castle by 6.4% in the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust's stock valued at $207,000 after purchasing an additional 137 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

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Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a report on Monday, March 17th. Scotiabank lowered their price target on Crown Castle from $102.00 to $99.00 and set a "sector perform" rating for the company in a report on Friday, March 14th. Royal Bank of Canada dropped their price target on Crown Castle from $109.00 to $107.00 and set a "sector perform" rating on the stock in a research report on Friday. Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research report on Monday, March 17th. Finally, Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Crown Castle has an average rating of "Hold" and an average price target of $109.88.

Crown Castle Stock Up 1.6 %

NYSE CCI traded up $1.49 during trading hours on Friday, hitting $96.65. 3,419,518 shares of the company traded hands, compared to its average volume of 2,922,216. 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 business's 50-day moving average is $96.56 and its 200-day moving average is $99.10. The stock has a market capitalization of $42.09 billion, a price-to-earnings ratio of 34.27 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.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.48%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's payout ratio is presently -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.