KCM Investment Advisors LLC Cuts Holdings in Crown Castle Inc. (NYSE:CCI)

KCM Investment Advisors LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 128,817 shares of the real estate investment trust's stock after selling 13,714 shares during the period. KCM Investment Advisors LLC's holdings in Crown Castle were worth $11,691,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Vanguard Group Inc. raised its holdings in shares of Crown Castle by 10.5% during the fourth 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 purchasing an additional 5,934,615 shares during the period. State Street Corp raised its stake in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust's stock worth $2,476,470,000 after buying an additional 747,390 shares during the period. Wellington Management Group LLP boosted its holdings in Crown Castle by 18.9% in the fourth 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 acquiring an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC grew its stake in Crown Castle by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust's stock valued at $1,119,225,000 after acquiring an additional 228,007 shares during the period. Finally, Norges Bank bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $561,714,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Scotiabank decreased their target price on shares of Crown Castle from $102.00 to $99.00 and set a "sector perform" rating for the company in a research report on Friday, March 14th. Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. BMO Capital Markets reaffirmed a "market perform" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Citigroup reissued a "buy" rating on shares of Crown Castle in a research report on Tuesday, March 25th. Finally, Wolfe Research raised shares of Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $110.00.

Crown Castle Stock Performance

Shares of Crown Castle stock traded down $0.98 during trading hours on Thursday, reaching $94.57. The company had a trading volume of 1,842,877 shares, compared to its average volume of 2,909,976. The business has a fifty day simple moving average of $96.29 and a 200 day simple moving average of $99.51. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm has a market cap of $41.18 billion, a PE ratio of 33.43 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.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given 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 currently -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.