US Bancorp DE Trims Holdings in Crown Castle Inc. (NYSE:CCI)

US Bancorp DE decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 30.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 65,348 shares of the real estate investment trust’s stock after selling 28,852 shares during the period. US Bancorp DE’s holdings in Crown Castle were worth $5,931,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle in the third quarter worth about $25,000. FNY Investment Advisers LLC grew its stake in Crown Castle by 300.0% during the fourth 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. Roxbury Financial LLC bought a new stake in Crown Castle during the 4th quarter worth approximately $37,000. Harbor Capital Advisors Inc. purchased a new stake in Crown Castle in the 3rd quarter worth approximately $47,000. Finally, Investors Research Corp boosted its holdings in Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CCI. Wells Fargo & Company decreased their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the company from $117.00 to $104.00 in a report on Monday, January 13th. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Finally, Scotiabank decreased their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $94.32 on Wednesday. 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 fifty day moving average of $89.92 and a 200-day moving average of $102.12. The stock has a market capitalization of $40.99 billion, a price-to-earnings ratio of 33.45 and a beta of 0.88.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.64%. Crown Castle’s payout ratio is 221.99%.

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.