New York Life Investment Management LLC Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

New York Life Investment Management LLC reduced its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 46.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,636 shares of the real estate investment trust's stock after selling 55,309 shares during the quarter. New York Life Investment Management LLC's holdings in Crown Castle were worth $5,866,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton boosted its position in shares of Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust's stock valued at $31,000 after purchasing an additional 136 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Crown Castle during the third quarter worth approximately $47,000. FNY Investment Advisers LLC increased its holdings in 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 purchasing an additional 300 shares in the last quarter. Finally, Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter valued at approximately $37,000. 90.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Citizens Jmp upgraded shares of Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a "sector perform" rating for the company in a research note on Thursday, January 23rd. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an "outperform" rating and a $115.00 target price on the stock. Finally, Citigroup cut their target price on Crown Castle from $128.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $108.75.

Crown Castle Stock Performance

Shares of NYSE:CCI traded down $0.82 during mid-day trading on Tuesday, reaching $95.04. The company had a trading volume of 1,273,722 shares, compared to its average volume of 2,526,642. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company's 50-day moving average price is $89.86 and its 200-day moving average price is $102.23. The firm has a market cap of $41.30 billion, a price-to-earnings ratio of 33.68 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.59%. The ex-dividend date is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is presently 221.99%.

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.