Wedbush Securities Inc. Has $307,000 Stake in Crown Castle Inc. (NYSE:CCI)

Wedbush Securities Inc. decreased its stake in Crown Castle Inc. (NYSE:CCI) by 20.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,379 shares of the real estate investment trust’s stock after selling 873 shares during the quarter. Wedbush Securities Inc.’s holdings in Crown Castle were worth $307,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter worth $25,000. FNY Investment Advisers LLC boosted 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 worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter worth $37,000. Marshall Investment Management LLC acquired a new position in Crown Castle in the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the fourth quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of recent analyst reports. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Argus raised Crown Castle to a “hold” rating in a research note on Friday, March 21st. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $95.56 on Thursday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm has a market capitalization of $41.61 billion, a price-to-earnings ratio of 33.89 and a beta of 0.93. The business has a 50-day simple moving average of $96.29 and a 200 day simple moving average of $99.51. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date was Friday, March 14th. Crown Castle’s payout ratio is -69.71%.

Crown Castle 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.