Freedom Investment Management Inc. Trims Position in Crown Castle Inc. (NYSE:CCI)

Freedom Investment Management Inc. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,668 shares of the real estate investment trust’s stock after selling 413 shares during the period. Freedom Investment Management Inc.’s holdings in Crown Castle were worth $424,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Accurate Wealth Management LLC increased its holdings in shares of Crown Castle by 5.4% during 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 purchasing an additional 124 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Crown Castle by 5.9% during the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 133 shares in the last quarter. Howard Capital Management Inc. boosted its position in 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 worth $1,041,000 after acquiring 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 valued at $207,000 after acquiring an additional 137 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 2.2 %

CCI opened at $103.51 on Monday. The stock has a market capitalization of $45.07 billion, a P/E ratio of 36.71 and a beta of 0.93. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The business has a 50 day simple moving average of $97.73 and a 200-day simple moving average of $98.57. 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 disclosed 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 annualized dividend and a yield of 6.05%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Analysts Set New Price Targets

Several brokerages have issued reports on CCI. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $109.88.

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.