Granite Investment Partners LLC Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Granite Investment Partners LLC lessened its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 25.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,135 shares of the real estate investment trust's stock after selling 4,454 shares during the period. Granite Investment Partners LLC's holdings in Crown Castle were worth $1,192,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on CCI shares. Argus upgraded shares of Crown Castle to a "hold" rating in a report on Friday, March 21st. Barclays lifted their price target on Crown Castle from $104.00 to $113.00 and gave the company an "overweight" rating in a research note on Monday, March 17th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. UBS Group raised shares of 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. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and lifted their price target for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Twelve investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.88.

Crown Castle Stock Performance

Shares of Crown Castle stock traded up $2.26 during trading hours on Friday, reaching $103.51. The company had a trading volume of 1,860,139 shares, compared to its average volume of 2,897,139. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business has a fifty day simple moving average of $97.73 and a 200 day simple moving average of $98.80. 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 has a market cap of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) 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.