Abundance Wealth Counselors Sells 1,809 Shares of Crown Castle Inc. (NYSE:CCI)

Abundance Wealth Counselors decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 18.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 8,228 shares of the real estate investment trust’s stock after selling 1,809 shares during the quarter. Abundance Wealth Counselors’ holdings in Crown Castle were worth $747,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. raised its holdings in Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 90 shares during the period. True North Advisors LLC increased its position in Crown Castle by 4.2% during the third quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after acquiring an additional 95 shares during the last quarter. Malaga Cove Capital LLC raised its stake in shares of Crown Castle by 1.8% in the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after acquiring an additional 100 shares during the period. Tsfg LLC lifted its holdings in shares of Crown Castle by 27.5% in the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 117 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its stake in shares of Crown Castle by 1.8% during the 3rd quarter. Bleakley Financial Group LLC now owns 6,554 shares of the real estate investment trust’s stock worth $777,000 after purchasing an additional 117 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.2 %

NYSE:CCI opened at $89.25 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $38.79 billion, a P/E ratio of 31.65 and a beta of 0.87. The company’s 50-day simple moving average is $93.78 and its 200-day simple moving average is $104.91. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.01%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

CCI has been the subject of several analyst reports. TD Cowen decreased their price objective 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. Royal Bank of Canada boosted their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Scotiabank lowered their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday, January 23rd. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $110.13.

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.