HB Wealth Management LLC Sells 719 Shares of Crown Castle Inc. (NYSE:CCI)

HB Wealth Management LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 6.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,756 shares of the real estate investment trust’s stock after selling 719 shares during the quarter. HB Wealth Management LLC’s holdings in Crown Castle were worth $885,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new stake in Crown Castle in the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the 3rd quarter valued at $47,000. Finally, Friedenthal Financial bought a new position in shares of Crown Castle during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $90.62 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market capitalization of $39.38 billion, a price-to-earnings ratio of 32.14 and a beta of 0.87. The firm has a 50 day moving average of $96.40 and a 200 day moving average of $105.63.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.91%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CCI. Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $105.00 to $100.00 in a research note on Tuesday, December 10th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. The Goldman Sachs Group raised their target price on shares of Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. TD Cowen dropped their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Royal Bank of Canada raised their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

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.