Farmers & Merchants Trust Co of Chambersburg PA Has $1.09 Million Stake in Crown Castle Inc. (NYSE:CCI)

Farmers & Merchants Trust Co of Chambersburg PA trimmed its position in Crown Castle Inc. (NYSE:CCI) by 49.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,416 shares of the real estate investment trust’s stock after selling 9,308 shares during the quarter. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Crown Castle were worth $1,085,000 at the end of the most recent reporting period.

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

Crown Castle Trading Down 0.8 %

Shares of Crown Castle stock opened at $101.31 on Friday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The stock has a fifty day simple moving average of $107.33 and a 200 day simple moving average of $104.81. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $136.29. The company has a market capitalization of $44.02 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 2.71 and a beta of 0.73.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.18%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada boosted their price objective on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. HSBC started coverage on Crown Castle in a report on Thursday, December 14th. They set a “hold” rating and a $110.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $107.00 to $110.00 in a report on Friday, January 19th. Nine equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Crown Castle has a consensus rating of “Hold” and an average price target of $118.93.

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.