Horan Capital Advisors LLC. Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

Horan Capital Advisors LLC. reduced its position in Crown Castle Inc. (NYSE:CCI) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,261 shares of the real estate investment trust’s stock after selling 3,607 shares during the quarter. Horan Capital Advisors LLC.’s holdings in Crown Castle were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle in the third quarter valued at $25,000. FNY Investment Advisers LLC grew its position 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 purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at $37,000. Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle in the third quarter valued at $47,000. Finally, Investors Research Corp grew its position in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Up 1.8 %

Shares of CCI stock opened at $95.79 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50-day moving average price of $89.86 and a two-hundred day moving average price of $102.23. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $41.63 billion, a P/E ratio of 33.97 and a beta of 0.88.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.54%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CCI shares. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft dropped their price objective on 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, Moffett Nathanson dropped their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $108.75.

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.