Capital World Investors Sells 7,269,146 Shares of Crown Castle Inc. (NYSE:CCI)

Capital World Investors lowered its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 64.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,930,619 shares of the real estate investment trust’s stock after selling 7,269,146 shares during the quarter. Capital World Investors’ holdings in Crown Castle were worth $356,743,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CCI. Twin Tree Management LP bought a new position in shares of Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC raised its stake in shares of 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 acquiring an additional 300 shares during the period. Roxbury Financial LLC bought a new stake in Crown Castle in the fourth quarter worth about $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle during the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle during the fourth quarter worth $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 2.2 %

Crown Castle stock opened at $103.51 on Monday. 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 market cap of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93. The stock has a 50-day moving average of $97.73 and a two-hundred day moving average of $98.57. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup reiterated a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a report on Friday, March 14th. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Finally, StockNews.com raised shares of Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday. Twelve equities 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’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $109.88.

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.