Peapack Gladstone Financial Corp Sells 1,111 Shares of Crown Castle Inc. (NYSE:CCI)

Peapack Gladstone Financial Corp cut its holdings in Crown Castle Inc. (NYSE:CCI) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,743 shares of the real estate investment trust’s stock after selling 1,111 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Crown Castle were worth $6,148,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter worth $25,000. FNY Investment Advisers LLC lifted its stake in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the fourth quarter valued at $37,000. Marshall Investment Management LLC purchased a new stake in shares of Crown Castle during the fourth quarter valued at $50,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Crown Castle in the fourth quarter worth about $53,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Bank of America assumed coverage on shares of Crown Castle in a research report on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price objective for the company. Jefferies Financial Group lowered 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 report on Thursday, January 2nd. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Down 5.8 %

Shares of CCI stock opened at $100.89 on Monday. The stock’s fifty day moving average price is $95.67 and its 200 day moving average price is $99.98. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. Crown Castle’s payout ratio is -69.71%.

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.