CENTRAL TRUST Co Sells 674 Shares of Crown Castle Inc. (NYSE:CCI)

CENTRAL TRUST Co cut its holdings in Crown Castle Inc. (NYSE:CCI) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,061 shares of the real estate investment trust’s stock after selling 674 shares during the period. CENTRAL TRUST Co’s holdings in Crown Castle were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CCI. Norges Bank bought a new stake in Crown Castle in the 4th quarter valued at about $642,077,000. Moneta Group Investment Advisors LLC increased its position in Crown Castle by 90,084.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock valued at $473,035,000 after buying an additional 3,483,563 shares in the last quarter. National Bank of Canada FI increased its position in Crown Castle by 2,296.2% in the 3rd quarter. National Bank of Canada FI now owns 2,885,158 shares of the real estate investment trust’s stock valued at $262,351,000 after buying an additional 2,764,751 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after buying an additional 2,121,603 shares in the last quarter. Finally, Barclays PLC increased its position in Crown Castle by 217.9% in the 3rd quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock valued at $281,439,000 after buying an additional 2,096,272 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCI. Royal Bank of Canada boosted their target price on 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 Crown Castle in a research report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price for the company. Finally, BMO Capital Markets upgraded 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 research note on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $118.93.

Crown Castle Price Performance

Shares of NYSE CCI opened at $100.20 on Tuesday. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $136.07. The stock’s 50 day moving average price is $107.00 and its 200-day moving average price is $104.99. The company has a market capitalization of $43.54 billion, a PE ratio of 28.96, a PEG ratio of 2.68 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.25%. Crown Castle’s payout ratio is presently 180.92%.

Crown Castle Company 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.