Crown Castle Inc. (NYSE:CCI) Stake Cut by FIL Ltd

FIL Ltd lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 0.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,409,938 shares of the real estate investment trust’s stock after selling 656 shares during the quarter. FIL Ltd owned approximately 0.78% of Crown Castle worth $309,486,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Accurate Wealth Management LLC boosted its holdings in shares of Crown Castle by 5.4% in the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after buying an additional 124 shares during the period. Exchange Traded Concepts LLC lifted its holdings in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 126 shares during the last quarter. IFP Advisors Inc boosted its stake in Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 133 shares during the period. Howard Capital Management Inc. grew its holdings in shares of Crown Castle by 1.2% during the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares during the last quarter. Finally, Cidel Asset Management Inc. grew its stake in Crown Castle by 6.4% during the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after buying an additional 137 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 2.9 %

Shares of CCI opened at $98.06 on Tuesday. 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 1-year low of $84.20 and a 1-year high of $120.92. The stock has a market capitalization of $42.70 billion, a P/E ratio of 34.77 and a beta of 0.93. The business’s 50-day moving average price is $95.79 and its 200 day moving average price is $99.86.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.38%. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CCI. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. JMP Securities initiated coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.00.

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.