Crown Castle Inc. (NYSE:CCI) Shares Sold by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 855,116 shares of the real estate investment trust’s stock after selling 39,722 shares during the period. Duff & Phelps Investment Management Co. owned approximately 0.20% of Crown Castle worth $77,610,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Providence Capital Advisors LLC raised its position in Crown Castle by 0.7% during the fourth quarter. Providence Capital Advisors LLC now owns 22,668 shares of the real estate investment trust’s stock valued at $2,057,000 after acquiring an additional 150 shares in the last quarter. Norges Bank acquired a new position in Crown Castle in the 4th quarter valued at approximately $561,714,000. Caisse Des Depots ET Consignations acquired a new position in Crown Castle in the fourth quarter worth about $2,188,000. Homestead Advisers Corp boosted its stake in shares of Crown Castle by 18.3% in the 4th quarter. Homestead Advisers Corp now owns 594,800 shares of the real estate investment trust’s stock valued at $53,984,000 after purchasing an additional 92,100 shares in the last quarter. Finally, NEOS Investment Management LLC grew its position in Crown Castle by 31.5% during the 4th quarter. NEOS Investment Management LLC now owns 25,998 shares of the real estate investment trust’s stock worth $2,360,000 after acquiring an additional 6,222 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on CCI. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research note on Tuesday. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. Finally, Scotiabank reduced their price target on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research report on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Price Performance

Crown Castle stock opened at $102.61 on Friday. The company’s 50 day moving average price is $93.95 and its two-hundred day moving average price is $100.88. The stock has a market cap of $44.68 billion, a P/E ratio of 36.38 and a beta of 0.89. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.10%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.