Farther Finance Advisors LLC Decreases Holdings in Crown Castle Inc. (NYSE:CCI)

Farther Finance Advisors LLC reduced its stake in Crown Castle Inc. (NYSE:CCI) by 13.3% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,529 shares of the real estate investment trust’s stock after selling 542 shares during the quarter. Farther Finance Advisors LLC’s holdings in Crown Castle were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Napa Wealth Management boosted its holdings in Crown Castle by 4.6% in the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock valued at $328,000 after purchasing an additional 122 shares during the period. Accurate Wealth Management LLC grew its position in Crown Castle by 5.4% during the 4th quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after buying an additional 126 shares during the period. IFP Advisors Inc grew its position in shares of Crown Castle by 5.9% in the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after buying an additional 133 shares during the last quarter. Finally, Howard Capital Management Inc. increased its position in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCI. KeyCorp upgraded shares of 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. Citigroup increased their price target on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Barclays boosted their target price on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research report on Monday. Eleven research 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. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Stock Down 0.3 %

Shares of CCI opened at $102.91 on Tuesday. The firm has a market capitalization of $44.73 billion, a P/E ratio of 36.49 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a fifty day moving average price of $91.29 and a 200-day moving average price of $101.26.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is -69.71%.

Crown Castle 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.