Oppenheimer Asset Management Inc. Sells 9,626 Shares of Crown Castle Inc. (NYSE:CCI)

Oppenheimer Asset Management Inc. trimmed its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 120,070 shares of the real estate investment trust's stock after selling 9,626 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in Crown Castle were worth $10,898,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AMF Tjanstepension AB boosted its holdings in Crown Castle by 11.7% in the 3rd quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust's stock valued at $19,835,000 after purchasing an additional 17,524 shares during the period. Assenagon Asset Management S.A. lifted its position in Crown Castle by 3.7% during the third quarter. Assenagon Asset Management S.A. now owns 18,667 shares of the real estate investment trust's stock valued at $2,214,000 after purchasing an additional 671 shares during the last quarter. Pallas Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter worth $205,000. Integrated Advisors Network LLC boosted its holdings in shares of Crown Castle by 24.5% in the 3rd quarter. Integrated Advisors Network LLC now owns 5,027 shares of the real estate investment trust's stock worth $596,000 after purchasing an additional 988 shares in the last quarter. Finally, SteelPeak Wealth LLC boosted its stake in Crown Castle by 239.5% in the third quarter. SteelPeak Wealth LLC now owns 10,840 shares of the real estate investment trust's stock worth $1,286,000 after buying an additional 7,647 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 1.8 %

Crown Castle stock traded up $1.69 during trading hours on Monday, hitting $95.79. The stock had a trading volume of 2,144,048 shares, compared to its average volume of 2,531,614. The stock's 50-day moving average price is $89.75 and its 200-day moving average price is $102.32. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. 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 stock has a market capitalization of $41.63 billion, a P/E ratio of 33.97 and a beta of 0.88.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.54%. Crown Castle's payout ratio is currently 221.99%.

Analysts Set New Price Targets

Several analysts have weighed in on CCI shares. Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an "underweight" rating for the company in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and cut their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Scotiabank dropped their price target 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. Finally, Citizens Jmp upgraded Crown Castle to a "strong-buy" rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $108.75.

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.