NewEdge Advisors LLC Has $854,000 Stock Position in Crown Castle Inc. (NYSE:CCI)

NewEdge Advisors LLC trimmed its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 65.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 9,409 shares of the real estate investment trust's stock after selling 17,931 shares during the quarter. NewEdge Advisors LLC's holdings in Crown Castle were worth $854,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Twin Tree Management LP acquired a new position in shares of Crown Castle during the fourth quarter valued at $25,000. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% during the fourth 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 during the period. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle during the fourth quarter valued at $53,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on CCI shares. Bank of America started coverage on Crown Castle in a report on Thursday, March 20th. They set a "neutral" rating and a $110.00 price target on the stock. StockNews.com raised Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. UBS Group raised Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 target price on the stock in a 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 report on Monday, March 17th. Finally, Argus raised Crown Castle to a "hold" rating in a report on Friday, March 21st. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of "Moderate Buy" and a consensus target price of $110.47.

Crown Castle Stock Up 2.9 %

Crown Castle stock traded up $2.93 during trading hours on Tuesday, hitting $103.85. The company had a trading volume of 2,401,871 shares, compared to its average volume of 2,878,364. The firm has a market capitalization of $45.22 billion, a P/E ratio of 36.83 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm's fifty day moving average is $99.26 and its 200-day moving average is $98.18. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.03%. Crown Castle's dividend payout ratio is presently -69.71%.

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.