Gabelli Funds LLC Sells 3,000 Shares of Crown Castle Inc. (NYSE:CCI)

Gabelli Funds LLC reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 6.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 43,805 shares of the real estate investment trust’s stock after selling 3,000 shares during the quarter. Gabelli Funds LLC’s holdings in Crown Castle were worth $3,976,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CCI. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC lifted its holdings in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new stake in shares of Crown Castle in the fourth quarter worth about $37,000. Marshall Investment Management LLC bought a new position in shares of Crown Castle during the 4th quarter valued at about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $53,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a report on Friday, March 14th. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their price objective for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Citigroup reaffirmed a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a research report on Tuesday, March 25th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $109.88.

Crown Castle Trading Up 2.2 %

Shares of Crown Castle stock opened at $103.51 on Friday. The firm has a market cap of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93. The stock has a fifty day moving average price of $97.48 and a 200-day moving average price of $98.91. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.05%. The ex-dividend date was Friday, March 14th. Crown Castle’s payout ratio is presently -69.71%.

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.