Corebridge Financial Inc. Has $10.19 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Corebridge Financial Inc. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 112,277 shares of the real estate investment trust’s stock after selling 4,993 shares during the period. Corebridge Financial Inc.’s holdings in Crown Castle were worth $10,190,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CCI. Twin Tree Management LP bought a new stake in Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its holdings in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in Crown Castle in the 4th quarter valued at $37,000. Marshall Investment Management LLC bought a new position in Crown Castle in the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new position in Crown Castle in the 4th quarter worth $53,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.6 %

Shares of CCI opened at $101.04 on Thursday. The stock has a 50 day simple moving average of $93.71 and a 200-day simple moving average of $100.86. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $44.00 billion, a PE ratio of 35.83 and a beta of 0.89. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.20%. Crown Castle’s payout ratio is presently -69.71%.

Analyst Upgrades and Downgrades

CCI has been the topic of several research analyst reports. Argus raised Crown Castle to a “hold” rating in a research report on Friday, March 21st. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Deutsche Bank Aktiengesellschaft lowered their price objective 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, January 23rd. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.