Crown Castle Inc. (NYSE:CCI) Shares Sold by Mariner LLC

Mariner LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.8% in the 4th quarter, HoldingsChannel reports. The firm owned 62,012 shares of the real estate investment trust’s stock after selling 3,136 shares during the quarter. Mariner LLC’s holdings in Crown Castle were worth $5,628,000 at the end of the most recent quarter.

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

Crown Castle Stock Up 2.2 %

Crown Castle stock opened at $103.51 on Friday. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a fifty day moving average price of $97.73 and a two-hundred day moving average price of $98.68. The firm has a market cap of $45.07 billion, a price-to-earnings ratio of 36.71 and a beta of 0.93.

Crown Castle Announces Dividend

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

Wall Street Analyst Weigh In

CCI has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. 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. Finally, Bank of America initiated coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 price objective on the stock. Twelve research analysts have rated the stock with a hold rating, six have given 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 target price of $109.88.

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.