Mutual Advisors LLC Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Mutual Advisors LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 55.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,405 shares of the real estate investment trust’s stock after selling 6,660 shares during the period. Mutual Advisors LLC’s holdings in Crown Castle were worth $623,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. Moors & Cabot Inc. lifted its stake in shares of Crown Castle by 3.4% during the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 91 shares during the period. Sequoia Financial Advisors LLC boosted its stake in Crown Castle by 33.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock worth $730,000 after buying an additional 991 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in Crown Castle by 4,497.6% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock valued at $1,052,000 after buying an additional 5,577 shares during the period. Brown Brothers Harriman & Co. increased its stake in shares of Crown Castle by 12.3% during the 1st quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock valued at $886,000 after acquiring an additional 525 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Crown Castle by 205.9% during the 1st quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 591 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 3.6 %

CCI stock opened at $105.59 on Thursday. The company has a market capitalization of $45.88 billion, a P/E ratio of 30.52, a PEG ratio of 2.75 and a beta of 0.74. The firm has a 50 day simple moving average of $107.92 and a 200-day simple moving average of $104.61. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $136.29.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Thursday, March 14th. Crown Castle’s payout ratio is currently 180.92%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCI. HSBC started coverage on shares of Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price for the company. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $90.00 to $115.00 in a report on Tuesday, December 5th. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Finally, Royal Bank of Canada raised their target price on Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average price target of $121.33.

About Crown Castle

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.