Park Place Capital Corp Sells 233 Shares of Crown Castle Inc. (NYSE:CCI)

Park Place Capital Corp decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 21.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 835 shares of the real estate investment trust’s stock after selling 233 shares during the period. Park Place Capital Corp’s holdings in Crown Castle were worth $76,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Profund Advisors LLC boosted its stake in shares of Crown Castle by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 6,729 shares of the real estate investment trust’s stock worth $657,000 after acquiring an additional 188 shares during the last quarter. Gabelli Funds LLC raised its position in shares of Crown Castle by 1.1% during the 2nd quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock valued at $4,573,000 after purchasing an additional 500 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Crown Castle by 31.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock valued at $122,000 after purchasing an additional 301 shares during the period. Public Sector Pension Investment Board raised its position in shares of Crown Castle by 17.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 60,432 shares of the real estate investment trust’s stock valued at $5,904,000 after purchasing an additional 9,047 shares during the period. Finally, Evergreen Capital Management LLC raised its position in shares of Crown Castle by 23.7% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,376 shares of the real estate investment trust’s stock valued at $623,000 after purchasing an additional 1,220 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of several recent analyst reports. Royal Bank of Canada raised their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Performance

CCI opened at $88.41 on Thursday. The firm’s fifty day simple moving average is $96.17 and its two-hundred day simple moving average is $105.59. The company has a market cap of $38.42 billion, a price-to-earnings ratio of 31.35 and a beta of 0.87. 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 52-week low of $84.20 and a 52-week high of $120.92.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 7.08%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is currently 221.99%.

Crown Castle Company 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.