Partners Group Holding AG Sells 48,508 Shares of Crown Castle Inc. (NYSE:CCI)

Partners Group Holding AG lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 14.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 298,970 shares of the real estate investment trust’s stock after selling 48,508 shares during the quarter. Crown Castle accounts for about 1.0% of Partners Group Holding AG’s investment portfolio, making the stock its 26th largest position. Partners Group Holding AG owned 0.07% of Crown Castle worth $27,135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Pathstone Holdings LLC raised its holdings in shares of Crown Castle by 0.6% in the third quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 230 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Crown Castle during the third quarter worth about $2,922,000. King Luther Capital Management Corp raised its holdings in shares of Crown Castle by 7.9% during the 3rd quarter. King Luther Capital Management Corp now owns 6,043 shares of the real estate investment trust’s stock worth $717,000 after buying an additional 441 shares in the last quarter. Intech Investment Management LLC acquired a new stake in Crown Castle in the third quarter valued at approximately $518,000. Finally, Great Valley Advisor Group Inc. acquired a new stake in shares of Crown Castle during the third quarter valued at about $363,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

CCI has been the subject of a number of research reports. JMP Securities assumed coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Barclays upped their target price on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. JPMorgan Chase & Co. dropped their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Performance

Shares of CCI stock opened at $106.61 on Friday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company’s 50 day moving average is $92.77 and its 200 day moving average is $101.13. The firm has a market cap of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89. 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 Announces Dividend

The company 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 dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.87%. Crown Castle’s dividend payout ratio is currently -69.71%.

Crown Castle Company 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.