Crown Castle Inc. (NYSE:CCI) Shares Sold by Sound View Wealth Advisors Group LLC

Sound View Wealth Advisors Group LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 25.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,733 shares of the real estate investment trust’s stock after selling 3,374 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Crown Castle were worth $883,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. FNY Investment Advisers LLC grew its position in shares of Crown Castle by 300.0% during the fourth 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 in the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle during the 4th quarter worth approximately $37,000. Investors Research Corp grew its holdings in Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares in the last quarter. Marshall Investment Management LLC acquired a new stake in shares of Crown Castle in the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Crown Castle during the 4th quarter worth $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Scotiabank cut their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Citigroup lowered their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $117.00 to $104.00 in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Stock Performance

Shares of CCI opened at $97.78 on Monday. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market cap of $42.49 billion, a P/E ratio of 34.67 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. The company has a 50-day moving average of $90.22 and a two-hundred day moving average of $101.83.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.40%. Crown Castle’s dividend payout ratio is currently 221.99%.

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.