M&T Bank Corp Sells 20,012 Shares of Crown Castle Inc. (NYSE:CCI)

M&T Bank Corp decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 20.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,620 shares of the real estate investment trust’s stock after selling 20,012 shares during the quarter. M&T Bank Corp’s holdings in Crown Castle were worth $6,863,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Catalyst Capital Advisors LLC bought a new position in Crown Castle during the 3rd quarter worth about $25,000. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC boosted its stake in shares of 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 valued at $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter valued at approximately $37,000. Finally, Investors Research Corp raised its stake in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.6 %

Crown Castle stock opened at $95.22 on Friday. The business’s 50-day simple moving average is $90.08 and its two-hundred day simple moving average is $102.02. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company has a market cap of $41.38 billion, a PE ratio of 33.77 and a beta of 0.88. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.57%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Scotiabank reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Moffett Nathanson decreased their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus price target of $108.75.

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.