Crown Castle Inc. (NYSE:CCI) Holdings Trimmed by LPL Financial LLC

LPL Financial LLC lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 0.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 472,940 shares of the real estate investment trust’s stock after selling 1,519 shares during the period. LPL Financial LLC’s holdings in Crown Castle were worth $42,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP boosted its stake in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after buying an additional 3,371,186 shares during the period. Geode Capital Management LLC grew its holdings in shares of Crown Castle by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares in the last quarter. Fisher Asset Management LLC increased its stake in shares of Crown Castle by 2.6% in the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after acquiring an additional 130,414 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 1.0 %

CCI opened at $103.61 on Friday. The business has a 50 day moving average of $94.20 and a 200-day moving average of $100.78. The stock has a market capitalization of $45.11 billion, a price-to-earnings ratio of 36.74 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 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 annualized dividend and a yield of 6.04%. Crown Castle’s dividend payout ratio is -69.71%.

Wall Street Analyst Weigh In

A number of research analysts have commented on CCI shares. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Scotiabank dropped their price objective on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. JPMorgan Chase & Co. decreased their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Finally, Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

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.