Crown Castle Inc. (NYSE:CCI) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC reduced its holdings in Crown Castle Inc. (NYSE:CCI) by 38.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 5,686 shares of the real estate investment trust’s stock after selling 3,576 shares during the period. CIBC Private Wealth Group LLC’s holdings in Crown Castle were worth $498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in Crown Castle in the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC increased its holdings 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 during the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter worth approximately $37,000. Marshall Investment Management LLC acquired a new position in Crown Castle during the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Crown Castle in the 4th quarter valued at $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Down 5.8 %

Shares of CCI opened at $100.89 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $43.93 billion, a PE ratio of 35.78 and a beta of 0.89. The company’s 50-day simple moving average is $95.67 and its 200-day simple moving average is $100.24. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.20%. Crown Castle’s dividend payout ratio is presently -69.71%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CCI. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Citigroup reiterated a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a report on Friday, March 14th. JPMorgan Chase & Co. decreased 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. Finally, Barclays raised their target price on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

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.