Commonwealth Equity Services LLC Cuts Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Commonwealth Equity Services LLC cut its stake in Crown Castle Inc. (NYSE:CCI) by 8.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,402 shares of the real estate investment trust’s stock after selling 6,151 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Crown Castle were worth $6,299,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its holdings in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle in the fourth quarter valued at about $37,000. Investors Research Corp increased its holdings 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 valued at $50,000 after buying an additional 154 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the topic of several research reports. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Up 1.9 %

Shares of CCI opened at $106.61 on Friday. The firm has a market cap of $46.33 billion, a PE ratio of 37.81 and a beta of 0.89. The company’s fifty day moving average is $92.77 and its two-hundred day moving average is $101.21. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 dividend yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.