Fmr LLC Sells 2,183,566 Shares of Crown Castle Inc. (NYSE:CCI)

FMR LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI - Free Report) by 15.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,124,916 shares of the real estate investment trust's stock after selling 2,183,566 shares during the period. FMR LLC owned approximately 2.79% of Crown Castle worth $1,100,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Norges Bank bought a new stake in Crown Castle during the fourth quarter worth about $561,714,000. Vanguard Group Inc. raised its holdings in shares of Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust's stock valued at $5,672,451,000 after buying an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP lifted its position in Crown Castle by 18.9% in the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust's stock worth $1,892,332,000 after buying an additional 3,321,249 shares during the last quarter. National Bank of Canada FI boosted its stake in Crown Castle by 37.3% in the fourth quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust's stock worth $525,849,000 after buying an additional 1,573,043 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Crown Castle in the fourth quarter worth approximately $95,167,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Raymond James upgraded shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and lowered their price objective for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Wolfe Research upgraded shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a research report on Monday, March 17th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Finally, JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an "outperform" rating and a $115.00 price target on the stock. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Crown Castle currently has an average rating of "Hold" and an average target price of $109.88.

Crown Castle Stock Up 1.6 %

Shares of NYSE:CCI traded up $1.49 during trading on Friday, hitting $96.65. The stock had a trading volume of 3,419,518 shares, compared to its average volume of 2,922,216. The company has a market capitalization of $42.09 billion, a PE ratio of 34.27 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm's fifty day moving average is $96.56 and its 200 day moving average is $99.10. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Dividend Announcement

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