Pictet Asset Management Holding SA Sells 99,366 Shares of Crown Castle Inc. (NYSE:CCI)

Pictet Asset Management Holding SA decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 5.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,717,142 shares of the real estate investment trust’s stock after selling 99,366 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Crown Castle were worth $155,848,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in CCI. Twin Tree Management LP purchased a new stake in shares of Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC raised its stake in 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 worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter worth about $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the 4th quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the 4th quarter worth approximately $53,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CCI shares. Citigroup lifted their price target on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their target price for the company from $128.00 to $122.00 in a report on Friday, March 14th. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research note on Tuesday. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Trading Up 1.0 %

Crown Castle stock opened at $103.61 on Friday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business’s fifty day moving average is $94.20 and its 200 day moving average is $100.78. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89.

Crown Castle Dividend Announcement

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