Stifel Financial Corp Sells 593,885 Shares of Crown Castle Inc. (NYSE:CCI)

Stifel Financial Corp decreased its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 52.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 530,370 shares of the real estate investment trust's stock after selling 593,885 shares during the period. Stifel Financial Corp owned about 0.12% of Crown Castle worth $48,136,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Twin Tree Management LP bought a new stake in shares of Crown Castle during the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC boosted its stake in 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 worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new stake in Crown Castle in the 4th quarter valued at $37,000. Marshall Investment Management LLC acquired a new position in shares of Crown Castle in the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Crown Castle during the 4th quarter worth about $53,000. Institutional investors own 90.77% of the company's stock.

Crown Castle Trading Down 0.6 %

CCI stock traded down $0.57 during midday trading on Friday, reaching $100.18. The stock had a trading volume of 1,716,710 shares, compared to its average volume of 2,880,766. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 35.52 and a beta of 0.93. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The business has a fifty day simple moving average of $99.02 and a two-hundred day simple moving average of $98.33.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued 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 is presently -69.71%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CCI shares. Scotiabank upped their target price on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 22nd. Citigroup reiterated a "buy" rating on shares of Crown Castle in a research note on Tuesday, March 25th. Argus upgraded Crown Castle to a "hold" rating in a research report on Friday, March 21st. Bank of America began coverage on Crown Castle in a research note on Thursday, March 20th. They issued a "neutral" rating and a $110.00 price target on the stock. Finally, Raymond James upgraded Crown Castle from an "outperform" rating to a "strong-buy" rating and dropped their price objective for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.47.

Crown Castle Company 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.