Frank Rimerman Advisors LLC Lowers Position in Crown Castle Inc. (NYSE:CCI)

Frank Rimerman Advisors LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 10.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,875 shares of the real estate investment trust’s stock after selling 1,018 shares during the period. Frank Rimerman Advisors LLC’s holdings in Crown Castle were worth $805,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. FNY Investment Advisers LLC raised its stake in shares of Crown Castle by 300.0% in 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 acquired a new stake in Crown Castle in the 4th quarter valued at about $37,000. Investors Research Corp boosted its stake in shares of 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 buying an additional 154 shares during the period. Marshall Investment Management LLC acquired a new position in shares of Crown Castle during the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Crown Castle during the fourth quarter worth approximately $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Crown Castle stock opened at $103.20 on Friday. The business has a 50 day simple moving average of $91.00 and a 200-day simple moving average of $101.40. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89.

Crown Castle Dividend Announcement

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 issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is 221.99%.

Analyst Ratings Changes

A number of brokerages recently issued reports 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 for the company in a research note on Thursday, January 23rd. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities initiated coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a report on Friday. Finally, Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.12.

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.