Crown Castle Inc. (NYSE:CCI) Holdings Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 4.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 651,568 shares of the real estate investment trust’s stock after selling 32,813 shares during the period. Alliancebernstein L.P. owned approximately 0.15% of Crown Castle worth $59,136,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in Crown Castle during the fourth quarter valued at $25,000. FNY Investment Advisers LLC grew its stake in Crown Castle by 300.0% during the 4th 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 acquired a new position in shares of Crown Castle in the 4th quarter valued at about $37,000. Marshall Investment Management LLC purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Finally, Barclays lifted their price target on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Down 5.8 %

Crown Castle stock opened at $100.89 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a fifty day moving average price of $95.67 and a two-hundred day moving average price of $100.24. The firm has a market cap of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.20%. Crown Castle’s dividend payout ratio is presently -69.71%.

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.