Cullen Capital Management LLC Has $99.40 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Cullen Capital Management LLC lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 1.8% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,095,142 shares of the real estate investment trust's stock after selling 19,586 shares during the period. Cullen Capital Management LLC owned 0.25% of Crown Castle worth $99,395,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC boosted its holdings in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle during the fourth quarter worth about $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle in the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the 4th quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company's stock.

Crown Castle Price Performance

Shares of CCI traded down $0.97 on Thursday, hitting $94.57. The company's stock had a trading volume of 1,896,276 shares, compared to its average volume of 3,443,779. 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 company has a market capitalization of $41.18 billion, a PE ratio of 33.54 and a beta of 0.93. The company has a 50 day moving average price of $96.29 and a 200 day moving average price of $99.51. 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. Investors of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.62%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on CCI shares. Jefferies Financial Group downgraded Crown Castle from a "buy" rating to a "hold" rating and dropped their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Scotiabank dropped their price target on shares of 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. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Barclays raised their price target 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, JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an "outperform" rating and a $115.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of "Moderate Buy" and a consensus target price of $110.00.

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.