MassMutual Private Wealth & Trust FSB Sells 11,357 Shares of Crown Castle Inc. (NYSE:CCI)

MassMutual Private Wealth & Trust FSB reduced its position in Crown Castle Inc. (NYSE:CCI) by 19.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,879 shares of the real estate investment trust’s stock after selling 11,357 shares during the quarter. MassMutual Private Wealth & Trust FSB’s holdings in Crown Castle were worth $4,345,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Ellsworth Advisors LLC raised its stake in Crown Castle by 5.2% in the fourth quarter. Ellsworth Advisors LLC now owns 6,165 shares of the real estate investment trust’s stock worth $560,000 after buying an additional 302 shares in the last quarter. Cascade Investment Group Inc. raised its position in shares of Crown Castle by 18.3% in the 4th quarter. Cascade Investment Group Inc. now owns 7,202 shares of the real estate investment trust’s stock worth $654,000 after acquiring an additional 1,115 shares in the last quarter. Grove Bank & Trust lifted its stake in shares of Crown Castle by 8.4% during the 4th quarter. Grove Bank & Trust now owns 1,903 shares of the real estate investment trust’s stock worth $173,000 after purchasing an additional 147 shares during the last quarter. Trust Co. of Vermont boosted its position in Crown Castle by 26.2% during the fourth quarter. Trust Co. of Vermont now owns 1,555 shares of the real estate investment trust’s stock valued at $141,000 after purchasing an additional 323 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its stake in Crown Castle by 2.8% in the fourth quarter. Arkadios Wealth Advisors now owns 12,446 shares of the real estate investment trust’s stock valued at $1,130,000 after purchasing an additional 338 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.4 %

NYSE:CCI opened at $91.03 on Tuesday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company’s fifty day moving average price is $96.66 and its 200-day moving average price is $105.67. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market capitalization of $39.56 billion, a P/E ratio of 32.28 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. Crown Castle’s payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

Several analysts have commented on CCI shares. JPMorgan Chase & Co. increased their price target on shares of Crown Castle from $115.00 to $124.00 and gave the company a “neutral” rating in a research report on Monday, September 23rd. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $113.00.

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.