Crown Castle Inc. (NYSE:CCI) Shares Sold by Mariner LLC

Mariner LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,012 shares of the real estate investment trust’s stock after selling 3,136 shares during the period. Mariner LLC’s holdings in Crown Castle were worth $5,628,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Crown Castle in the 4th quarter valued at about $561,714,000. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after acquiring an additional 5,934,615 shares in the last quarter. Wellington Management Group LLP lifted its stake in Crown Castle by 18.9% during the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after purchasing an additional 3,321,249 shares during the last quarter. National Bank of Canada FI boosted its holdings in Crown Castle by 37.3% in the fourth quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Crown Castle during the fourth quarter valued at $95,167,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $103.51 on Friday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a fifty day moving average price of $97.73 and a two-hundred day moving average price of $98.68. The firm has a market cap of $45.07 billion, a P/E ratio of 36.71 and a beta of 0.93.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.05%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCI. Barclays lifted their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. BMO Capital Markets restated a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Bank of America assumed coverage on Crown Castle in a report on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research report on Friday, March 14th. Finally, UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research note on Friday, March 14th. Twelve 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, Crown Castle currently has an average rating of “Moderate Buy” and an average target price of $109.88.

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.