Crown Castle Inc. (NYSE:CCI) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 9.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,453 shares of the real estate investment trust’s stock after selling 6,122 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Crown Castle were worth $5,305,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. FNY Investment Advisers LLC grew its position in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $37,000. Investors Research Corp lifted its stake in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. Marshall Investment Management LLC bought a new position in Crown Castle during the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new position in Crown Castle during the fourth quarter worth $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CCI. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday. JMP Securities began coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Moffett Nathanson cut their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft cut their target price on 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, Citigroup lifted their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Eleven equities research 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, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Price Performance

CCI opened at $104.90 on Wednesday. The company has a fifty day moving average price of $91.64 and a two-hundred day moving average price of $101.21. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $45.59 billion, a PE ratio of 37.20 and a beta of 0.89.

Crown Castle Announces Dividend

The company also recently declared 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 5.97%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.