Crown Castle Inc. (NYSE:CCI) Position Reduced by NewEdge Wealth LLC

NewEdge Wealth LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,413 shares of the real estate investment trust’s stock after selling 4,595 shares during the quarter. NewEdge Wealth LLC’s holdings in Crown Castle were worth $1,943,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Checchi Capital Advisers LLC lifted its position in shares of Crown Castle by 108.6% in the fourth quarter. Checchi Capital Advisers LLC now owns 13,845 shares of the real estate investment trust’s stock worth $1,257,000 after purchasing an additional 7,207 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its position in shares of Crown Castle by 2.4% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 8,670 shares of the real estate investment trust’s stock worth $787,000 after purchasing an additional 200 shares in the last quarter. National Pension Service lifted its position in shares of Crown Castle by 3.6% in the fourth quarter. National Pension Service now owns 1,123,616 shares of the real estate investment trust’s stock worth $101,979,000 after purchasing an additional 38,531 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $631,000. Finally, Impax Asset Management Group plc purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $645,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CCI has been the subject of a number of research analyst reports. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Finally, JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Trading Up 0.7 %

Shares of CCI stock opened at $94.13 on Friday. The business’s 50 day moving average is $89.75 and its two-hundred day moving average is $102.38. The company has a market cap of $40.91 billion, a PE ratio of 33.38 and a beta of 0.88. 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 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.65%. Crown Castle’s payout ratio is 221.99%.

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.