Sanibel Captiva Trust Company Inc. Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

Sanibel Captiva Trust Company Inc. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 13.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,785 shares of the real estate investment trust’s stock after selling 429 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Crown Castle were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton increased its stake in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in Crown Castle in the 3rd quarter worth $47,000. FNY Investment Advisers LLC lifted its position 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 valued at $36,000 after purchasing an additional 300 shares in the last quarter. Finally, Investors Research Corp increased its position in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of a number of recent analyst reports. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. TD Cowen dropped their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Up 0.4 %

Shares of NYSE:CCI opened at $91.03 on Monday. The company has a 50-day moving average price of $96.66 and a 200 day moving average price of $105.61. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market cap of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.