Meiji Yasuda Asset Management Co Ltd. Sells 28,741 Shares of Crown Castle Inc. (NYSE:CCI)

Meiji Yasuda Asset Management Co Ltd. reduced its stake in Crown Castle Inc. (NYSE:CCI) by 82.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,194 shares of the real estate investment trust’s stock after selling 28,741 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Crown Castle were worth $562,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in CCI. Twin Tree Management LP acquired a new position in Crown Castle in the 4th quarter valued at $25,000. FNY Investment Advisers LLC raised its stake 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 purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new stake in Crown Castle during the fourth quarter worth about $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in Crown Castle during the fourth quarter worth about $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $102.61 on Friday. The firm has a market cap of $44.68 billion, a PE ratio of 36.38 and a beta of 0.89. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm’s fifty day moving average is $93.95 and its 200-day moving average is $100.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Scotiabank reduced their target price on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. Citigroup lifted their price target on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Moffett Nathanson dropped their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.00.

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.