Elo Mutual Pension Insurance Co Sells 1,639 Shares of Crown Castle Inc. (NYSE:CCI)

Elo Mutual Pension Insurance Co cut its stake in Crown Castle Inc. (NYSE:CCI) by 4.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 39,658 shares of the real estate investment trust’s stock after selling 1,639 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Crown Castle were worth $3,599,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in Crown Castle in the 3rd quarter valued at approximately $518,000. D.A. Davidson & CO. grew its stake in shares of Crown Castle by 4.9% during the 3rd quarter. D.A. Davidson & CO. now owns 20,478 shares of the real estate investment trust’s stock worth $2,429,000 after acquiring an additional 960 shares in the last quarter. Townsquare Capital LLC raised its holdings in shares of Crown Castle by 25.9% in the third quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $694,000 after purchasing an additional 1,203 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Crown Castle by 0.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 262,056 shares of the real estate investment trust’s stock valued at $31,088,000 after purchasing an additional 1,377 shares during the last quarter. Finally, Fiduciary Trust Co lifted its position in shares of Crown Castle by 15.7% in the third quarter. Fiduciary Trust Co now owns 8,180 shares of the real estate investment trust’s stock worth $970,000 after purchasing an additional 1,113 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. 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. Citigroup upped their price objective on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Stock Performance

Shares of CCI stock opened at $103.61 on Friday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89. The company has a 50-day simple moving average of $94.20 and a 200 day simple moving average of $100.78. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is -69.71%.

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.