Rockefeller Capital Management L.P. Sells 68,683 Shares of Crown Castle Inc. (NYSE:CCI)

Rockefeller Capital Management L.P. lessened its position in Crown Castle Inc. (NYSE:CCI) by 42.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 91,427 shares of the real estate investment trust’s stock after selling 68,683 shares during the period. Rockefeller Capital Management L.P.’s holdings in Crown Castle were worth $8,299,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Crown Castle by 10.5% during 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 purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Crown Castle by 18.9% during the fourth 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 buying an additional 3,321,249 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Crown Castle by 1.9% during the fourth quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock valued at $1,119,225,000 after buying an additional 228,007 shares during the last quarter. Norges Bank bought a new stake in Crown Castle in the 4th quarter worth about $561,714,000. Finally, National Bank of Canada FI raised its position in Crown Castle by 37.3% in 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 buying an additional 1,573,043 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CCI. StockNews.com lowered shares of Crown Castle from a “hold” rating to a “sell” rating in a research note on Friday, April 11th. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research note on Friday, March 14th. Bank of America began coverage on Crown Castle in a research note on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price target on the stock. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $109.88.

Crown Castle Stock Up 0.8 %

NYSE CCI opened at $101.34 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock’s 50 day moving average is $97.20 and its 200 day moving average is $99.01. The stock has a market cap of $44.13 billion, a PE ratio of 35.94 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid 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 yield of 6.18%. 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.