Crown Castle Inc. (NYSE:CCI) Shares Sold by Commerce Bank

Commerce Bank decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 23.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,268 shares of the real estate investment trust’s stock after selling 14,104 shares during the quarter. Commerce Bank’s holdings in Crown Castle were worth $4,199,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Crown Castle in the fourth quarter valued at about $561,714,000. Vanguard Group Inc. increased its position in 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 valued at $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. Wellington Management Group LLP raised its stake in Crown Castle by 18.9% during the 4th quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock valued at $1,892,332,000 after acquiring an additional 3,321,249 shares during the last quarter. National Bank of Canada FI lifted its position in Crown Castle by 37.3% during the 4th 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 acquiring an additional 1,573,043 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Crown Castle in the 4th quarter valued at approximately $95,167,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $85.00 to $105.00 in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. lowered their price objective on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Twelve research analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $109.88.

Crown Castle Price Performance

Shares of NYSE CCI opened at $103.51 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $45.07 billion, a price-to-earnings ratio of 36.71 and a beta of 0.93. The company’s 50-day moving average price is $97.73 and its 200 day moving average price is $98.57. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.05%. Crown Castle’s dividend payout ratio is currently -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.