Cannell & Spears LLC Has $1.09 Million Position in Crown Castle Inc. (NYSE:CCI)

Cannell & Spears LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,960 shares of the real estate investment trust’s stock after selling 980 shares during the period. Cannell & Spears LLC’s holdings in Crown Castle were worth $1,085,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Accurate Wealth Management LLC increased its holdings in Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after purchasing an additional 124 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Crown Castle by 12.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after acquiring an additional 126 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Crown Castle by 5.9% in the fourth quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after acquiring an additional 133 shares during the period. Howard Capital Management Inc. boosted its holdings in Crown Castle by 1.2% in the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after acquiring an additional 135 shares during the last quarter. Finally, Cidel Asset Management Inc. increased its position in Crown Castle by 6.4% during the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after purchasing an additional 137 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.8 %

Shares of NYSE:CCI opened at $104.39 on Tuesday. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a market capitalization of $45.45 billion, a PE ratio of 37.02 and a beta of 0.89. The business has a fifty day moving average price of $94.47 and a two-hundred day moving average price of $100.40. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.00%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research report on Tuesday, March 25th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research note on Friday, March 14th. Scotiabank lowered their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price 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.