Crown Castle Inc. (NYSE:CCI) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 14.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,860 shares of the real estate investment trust’s stock after selling 306 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Crown Castle were worth $169,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mutual Advisors LLC lifted its holdings in shares of Crown Castle by 22.0% during the fourth quarter. Mutual Advisors LLC now owns 7,022 shares of the real estate investment trust’s stock worth $637,000 after purchasing an additional 1,264 shares during the period. SG Americas Securities LLC raised its position in Crown Castle by 3,607.1% during the 4th quarter. SG Americas Securities LLC now owns 194,585 shares of the real estate investment trust’s stock worth $17,661,000 after buying an additional 189,336 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Crown Castle by 76.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 385,829 shares of the real estate investment trust’s stock worth $35,018,000 after acquiring an additional 167,707 shares during the period. Simon Quick Advisors LLC boosted its holdings in shares of Crown Castle by 1.1% in the fourth quarter. Simon Quick Advisors LLC now owns 36,480 shares of the real estate investment trust’s stock valued at $3,311,000 after acquiring an additional 399 shares in the last quarter. Finally, LifePlan Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter worth about $216,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Up 0.2 %

NYSE CCI opened at $88.62 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The business has a 50 day moving average price of $95.88 and a two-hundred day moving average price of $105.47. The stock has a market cap of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 7.06%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CCI shares. Citigroup set a $128.00 price objective on shares of Crown Castle in a research report on Thursday, October 17th. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Scotiabank dropped their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $109.80.

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.