Crown Castle Inc. (NYSE:CCI) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 14.3% in the 4th quarter, HoldingsChannel reports. The firm owned 8,484 shares of the real estate investment trust’s stock after selling 1,421 shares during the period. Schechter Investment Advisors LLC’s holdings in Crown Castle were worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in CCI. Riverview Trust Co raised its holdings in Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares in the last quarter. Union Savings Bank purchased a new position in Crown Castle during the second quarter worth about $27,000. ST Germain D J Co. Inc. purchased a new position in Crown Castle during the second quarter worth about $27,000. West Tower Group LLC purchased a new position in Crown Castle in the second quarter valued at about $28,000. Finally, Almanack Investment Partners LLC. purchased a new position in Crown Castle in the third quarter valued at about $28,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on CCI shares. Royal Bank of Canada increased their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $107.00 to $110.00 in a report on Friday, January 19th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $90.00 to $115.00 in a report on Tuesday, December 5th. Finally, HSBC started coverage on shares of Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target on the stock. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $121.33.

Crown Castle Stock Performance

Crown Castle stock opened at $105.59 on Thursday. The firm’s fifty day moving average price is $107.92 and its 200 day moving average price is $104.61. The company has a market capitalization of $45.88 billion, a price-to-earnings ratio of 30.52, a price-to-earnings-growth ratio of 2.71 and a beta of 0.74. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $136.29. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Thursday, March 14th. Crown Castle’s payout ratio is currently 180.92%.

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.