Crown Castle Inc. (NYSE:CCI) Shares Sold by HighPoint Advisor Group LLC

HighPoint Advisor Group LLC lessened its position in Crown Castle Inc. (NYSE:CCI) by 6.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,371 shares of the real estate investment trust’s stock after selling 517 shares during the period. HighPoint Advisor Group LLC’s holdings in Crown Castle were worth $672,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCI. Twin Tree Management LP acquired a new position in Crown Castle in the 4th quarter valued at $25,000. FNY Investment Advisers LLC boosted its holdings 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 purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the 4th quarter valued at $37,000. Marshall Investment Management LLC acquired a new stake in shares of Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the 4th quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

CCI stock opened at $104.57 on Wednesday. The stock’s 50 day moving average is $94.75 and its two-hundred day moving average is $100.30. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a market capitalization of $45.53 billion, a PE ratio of 37.08 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.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.99%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a research note on Friday, March 14th. Bank of America began coverage on shares of Crown Castle in a report on Thursday, March 20th. They issued a “neutral” rating and a $110.00 price target on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research report on Friday, March 14th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle 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.