Teacher Retirement System of Texas Sells 12,299 Shares of Crown Castle Inc. $CCI

Teacher Retirement System of Texas decreased its position in Crown Castle Inc. (NYSE:CCI) by 15.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 67,217 shares of the real estate investment trust’s stock after selling 12,299 shares during the period. Teacher Retirement System of Texas’ holdings in Crown Castle were worth $6,486,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Empowered Funds LLC raised its position in shares of Crown Castle by 7.5% during the first quarter. Empowered Funds LLC now owns 16,444 shares of the real estate investment trust’s stock worth $1,714,000 after purchasing an additional 1,150 shares during the period. Kathmere Capital Management LLC increased its stake in Crown Castle by 18.6% during the 2nd quarter. Kathmere Capital Management LLC now owns 4,909 shares of the real estate investment trust’s stock worth $504,000 after purchasing an additional 770 shares in the last quarter. Patton Fund Management Inc. acquired a new stake in Crown Castle during the 2nd quarter worth approximately $226,000. ORG Partners LLC lifted its stake in Crown Castle by 97.7% in the second quarter. ORG Partners LLC now owns 696 shares of the real estate investment trust’s stock valued at $72,000 after buying an additional 344 shares in the last quarter. Finally, Avior Wealth Management LLC lifted its stake in Crown Castle by 1,175.4% in the second quarter. Avior Wealth Management LLC now owns 11,045 shares of the real estate investment trust’s stock valued at $1,135,000 after buying an additional 10,179 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $115.00 to $105.00 and set an “overweight” rating on the stock in a report on Tuesday, December 16th. New Street Research cut Crown Castle from a “buy” rating to a “neutral” rating and set a $93.00 target price for the company. in a report on Monday, January 5th. Royal Bank Of Canada cut their price target on Crown Castle from $112.00 to $110.00 and set an “outperform” rating on the stock in a report on Monday, January 12th. Jefferies Financial Group decreased their price objective on Crown Castle from $102.00 to $90.00 and set a “hold” rating for the company in a report on Tuesday, December 16th. Finally, UBS Group dropped their target price on Crown Castle from $127.00 to $116.00 and set a “buy” rating on the stock in a research report on Tuesday, January 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $106.75.

Crown Castle Stock Up 0.7%

Shares of Crown Castle stock opened at $87.25 on Tuesday. Crown Castle Inc. has a 12-month low of $83.21 and a 12-month high of $115.76. The business’s 50 day moving average is $88.53 and its 200-day moving average is $95.02. The stock has a market cap of $37.99 billion, a P/E ratio of -8.21, a P/E/G ratio of 0.55 and a beta of 0.96.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th were given a $1.0625 dividend. This represents a $4.25 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. Crown Castle’s dividend payout ratio (DPR) is -39.98%.

Crown Castle Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.