Meiji Yasuda Asset Management Co Ltd. Sells 28,741 Shares of Crown Castle Inc. (NYSE:CCI)

Meiji Yasuda Asset Management Co Ltd. cut its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 82.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,194 shares of the real estate investment trust's stock after selling 28,741 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Crown Castle were worth $562,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in CCI. Prestige Wealth Management Group LLC raised its holdings in shares of Crown Castle by 7.2% during the 4th quarter. Prestige Wealth Management Group LLC now owns 6,248 shares of the real estate investment trust's stock worth $567,000 after buying an additional 419 shares in the last quarter. EntryPoint Capital LLC bought a new position in Crown Castle in the fourth quarter valued at about $327,000. Vanguard Group Inc. raised its stake in 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 worth $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Stevens Capital Management LP bought a new position in shares of Crown Castle in the fourth quarter worth about $984,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Crown Castle in the fourth quarter worth about $13,512,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Up 0.3 %

Shares of Crown Castle stock traded up $0.34 on Tuesday, hitting $104.57. 2,476,299 shares of the company's stock traded hands, compared to its average volume of 2,863,454. The company has a fifty day moving average of $94.75 and a two-hundred day moving average of $100.30. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market capitalization of $45.53 billion, a price-to-earnings ratio of 37.08 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

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Crown Castle Announces Dividend

The business also recently disclosed 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. This represents a $6.26 annualized dividend and a dividend yield of 5.99%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is -69.71%.

Analysts Set New Price Targets

A number of research firms recently issued reports on CCI. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. UBS Group upgraded shares of Crown Castle from a "neutral" rating to a "buy" rating and set a $118.00 price target for the company in a report on Friday, March 14th. Argus raised Crown Castle to a "hold" rating in a report on Friday, March 21st. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a "buy" rating to a "hold" rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Crown Castle has a consensus rating of "Moderate Buy" and a consensus price target of $110.00.

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.