Crown Castle Inc. (NYSE:CCI) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.3% in the 4th quarter, HoldingsChannel reports. The firm owned 253,717 shares of the real estate investment trust’s stock after selling 11,317 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Crown Castle were worth $23,027,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle during the third quarter valued at about $25,000. Rosenberg Matthew Hamilton raised its holdings 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 valued at $31,000 after acquiring an additional 136 shares during the period. FNY Investment Advisers LLC lifted its position 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 valued at $36,000 after acquiring an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new position in Crown Castle during the 3rd quarter worth approximately $47,000. Finally, Friedenthal Financial acquired a new stake in Crown Castle during the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI opened at $88.49 on Friday. The stock has a 50-day moving average of $95.59 and a 200-day moving average of $105.36. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a market cap of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 yield of 7.07%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CCI shares. Citigroup set a $128.00 price target on Crown Castle in a research report on Thursday, October 17th. Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday. TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. UBS Group upped their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $109.80.

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.