Crown Castle Inc. (NYSE:CCI) Shares Sold by Stonegate Investment Group LLC

Stonegate Investment Group LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 14.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,972 shares of the real estate investment trust’s stock after selling 2,326 shares during the period. Stonegate Investment Group LLC’s holdings in Crown Castle were worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCI. Almanack Investment Partners LLC. bought a new position in shares of Crown Castle in the third quarter worth $28,000. ST Germain D J Co. Inc. bought a new stake in shares of Crown Castle in the 2nd quarter worth approximately $27,000. West Tower Group LLC acquired a new position in Crown Castle in the second quarter worth approximately $28,000. Union Savings Bank bought a new position in shares of Crown Castle in the second quarter valued at $27,000. Finally, PCA Investment Advisory Services Inc. acquired a new stake in shares of Crown Castle during the 2nd quarter valued at $29,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

NYSE CCI opened at $102.85 on Wednesday. The stock has a market capitalization of $44.69 billion, a PE ratio of 29.73, a P/E/G ratio of 2.77 and a beta of 0.73. The stock has a 50-day simple moving average of $107.59 and a 200 day simple moving average of $104.85. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $136.29.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.09%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is currently 180.92%.

Analyst Ratings Changes

CCI has been the topic of a number of recent research reports. HSBC initiated coverage on Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price on the stock. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Royal Bank of Canada upped their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. Finally, Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $115.00 in a report on Tuesday, December 5th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average price target of $118.93.

Check Out Our Latest Analysis on CCI

About Crown Castle

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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