Summit Investment Advisors Inc. Sells 117 Shares of Crown Castle Inc. (NYSE:CCI)

Summit Investment Advisors Inc. cut its holdings in Crown Castle Inc. (NYSE:CCI) by 2.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 4,395 shares of the real estate investment trust’s stock after selling 117 shares during the quarter. Summit Investment Advisors Inc.’s holdings in Crown Castle were worth $399,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after purchasing an additional 348,296 shares during the last quarter. Bard Financial Services Inc. boosted its holdings in Crown Castle by 6.6% in the third quarter. Bard Financial Services Inc. now owns 10,080 shares of the real estate investment trust’s stock worth $1,196,000 after acquiring an additional 620 shares in the last quarter. Anchor Investment Management LLC increased its holdings in shares of Crown Castle by 111.7% during the third quarter. Anchor Investment Management LLC now owns 1,397 shares of the real estate investment trust’s stock valued at $166,000 after acquiring an additional 737 shares in the last quarter. World Investment Advisors LLC boosted its stake in Crown Castle by 16.7% in the 3rd quarter. World Investment Advisors LLC now owns 3,374 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 484 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Crown Castle during the 3rd quarter valued at about $1,038,000. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CCI shares. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Citigroup reissued a “buy” rating on shares of Crown Castle in a report on Tuesday, March 25th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Royal Bank of Canada decreased their target price on Crown Castle from $109.00 to $107.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Twelve analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.88.

Crown Castle Stock Performance

NYSE:CCI opened at $103.51 on Friday. The stock has a 50-day simple moving average of $97.73 and a two-hundred day simple moving average of $98.68. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The firm has a market capitalization of $45.07 billion, a PE ratio of 36.71 and a beta of 0.93.

Crown Castle Announces Dividend

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