State of Tennessee Department of Treasury Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

State of Tennessee Department of Treasury reduced its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 4.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,010 shares of the real estate investment trust's stock after selling 3,997 shares during the quarter. State of Tennessee Department of Treasury's holdings in Crown Castle were worth $8,623,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

CCI has been the subject of a number of research reports. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a research report on Monday, January 27th. Raymond James upgraded shares of Crown Castle from an "outperform" rating to a "strong-buy" rating and cut their price target for the stock from $128.00 to $122.00 in a report on Friday, March 14th. Citigroup restated a "buy" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Jefferies Financial Group cut shares of Crown Castle from a "buy" rating to a "hold" rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They set an "outperform" rating and a $115.00 price target on the stock. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned 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 target price of $110.47.

Crown Castle Price Performance

CCI stock traded down $0.57 during mid-day trading on Friday, reaching $100.18. The company's stock had a trading volume of 1,716,710 shares, compared to its average volume of 2,880,766. 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 is $99.02 and its two-hundred day moving average is $98.33. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a market cap of $43.62 billion, a PE ratio of 35.52 and a beta of 0.93.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Friday, March 14th. 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.