Crown Castle Inc. (NYSE:CCI) Shares Sold by Kennebec Savings Bank

Kennebec Savings Bank lessened its stake in Crown Castle Inc. (NYSE:CCI) by 9.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,812 shares of the real estate investment trust’s stock after selling 527 shares during the period. Kennebec Savings Bank’s holdings in Crown Castle were worth $413,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after purchasing an additional 90 shares during the period. True North Advisors LLC grew its position in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after buying an additional 95 shares during the last quarter. Malaga Cove Capital LLC grew its position in shares of Crown Castle by 1.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 100 shares during the last quarter. Tsfg LLC raised its stake in Crown Castle by 27.5% during the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 117 shares during the period. Finally, Bleakley Financial Group LLC lifted its holdings in Crown Castle by 1.8% in the third quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock worth $777,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3 %

CCI stock opened at $88.99 on Friday. 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 firm has a market cap of $38.67 billion, a PE ratio of 31.56 and a beta of 0.87. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a 50 day simple moving average of $94.42 and a 200 day simple moving average of $105.12.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on CCI shares. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Scotiabank reduced their price target 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. UBS Group increased their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Citigroup set a $128.00 target price on shares of Crown Castle in a research note on Thursday, October 17th. Finally, TD Cowen dropped their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle currently has an average rating of “Hold” and a consensus target price of $110.13.

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.