Fifth Third Bancorp trimmed its position in shares of Crown Castle Inc. (NYSE:CCI – Free Report) by 14.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,385 shares of the real estate investment trust’s stock after selling 5,523 shares during the quarter. Fifth Third Bancorp’s holdings in Crown Castle were worth $3,030,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the 3rd quarter worth about $25,000. Rosenberg Matthew Hamilton raised its position in 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 during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle in the third quarter valued at about $47,000. FNY Investment Advisers LLC grew its position in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the last quarter. Finally, Investors Research Corp increased its stake in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 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 analyst reports. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Scotiabank decreased their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. TD Cowen cut their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, JMP Securities started coverage on shares of Crown Castle in a research report on Monday. They issued an “outperform” rating and a $115.00 price objective for the company. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $110.13.
Crown Castle Trading Up 4.3 %
Shares of CCI stock opened at $92.33 on Tuesday. 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 Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm’s 50 day moving average price is $95.29 and its two-hundred day moving average price is $105.41. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 32.74 and a beta of 0.87.
Crown Castle Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 6.78%. Crown Castle’s payout ratio is 221.99%.
Crown Castle 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.
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