Edgemoor Investment Advisors Inc. Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Edgemoor Investment Advisors Inc. reduced its position in Crown Castle Inc. (NYSE:CCI) by 2.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,658 shares of the real estate investment trust’s stock after selling 1,800 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Crown Castle were worth $8,137,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Crown Castle in the 4th quarter worth about $95,167,000. State Street Corp boosted its holdings in shares of Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in shares of Crown Castle by 9,471.0% in the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock valued at $748,000 after acquiring an additional 739,779 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CCI shares. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Friday. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. JMP Securities started coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Citigroup boosted their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average target price of $109.12.

Crown Castle Trading Up 8.5 %

CCI opened at $103.20 on Monday. The stock has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average of $91.00 and a 200-day moving average of $101.32. 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 announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is presently 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.