Procyon Advisors LLC Sells 3,426 Shares of Crown Castle Inc. (NYSE:CCI)

Procyon Advisors LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 38.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,444 shares of the real estate investment trust’s stock after selling 3,426 shares during the quarter. Procyon Advisors LLC’s holdings in Crown Castle were worth $627,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. State Street Corp boosted its position in shares of Crown Castle by 1.4% during the 2nd quarter. State Street Corp now owns 20,907,232 shares of the real estate investment trust’s stock valued at $2,382,170,000 after acquiring an additional 279,702 shares during the last quarter. Morgan Stanley lifted its position in Crown Castle by 8.9% during the third quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares during the last quarter. FMR LLC grew its stake in shares of Crown Castle by 14.3% in the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock worth $1,098,526,000 after buying an additional 1,496,330 shares in the last quarter. Cohen & Steers Inc. grew its stake in shares of Crown Castle by 27.6% in the 2nd quarter. Cohen & Steers Inc. now owns 11,076,246 shares of the real estate investment trust’s stock worth $1,262,045,000 after buying an additional 2,398,791 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Crown Castle by 21.9% in the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock worth $932,682,000 after buying an additional 1,818,910 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on CCI shares. Royal Bank of Canada boosted their price objective 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. HSBC began coverage on shares of Crown Castle in a research note on Thursday, December 14th. They issued a “hold” rating and a $110.00 price objective for the company. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $107.00 to $110.00 in a report on Friday, January 19th. Finally, Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $90.00 to $115.00 in a research note on Tuesday, December 5th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.33.

Crown Castle Stock Up 0.2 %

Crown Castle stock opened at $105.83 on Friday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The firm has a market cap of $45.99 billion, a P/E ratio of 30.59, a P/E/G ratio of 2.80 and a beta of 0.74. The business has a fifty day moving average of $107.87 and a two-hundred day moving average of $104.62. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $136.29.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 5.92%. The ex-dividend date was 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.