Access Financial Services Inc. Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

Access Financial Services Inc. lessened its stake in Crown Castle Inc. (NYSE:CCI) by 15.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,965 shares of the real estate investment trust’s stock after selling 2,262 shares during the period. Access Financial Services Inc.’s holdings in Crown Castle were worth $1,378,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. BlackRock Inc. grew its position in Crown Castle by 0.8% in the 2nd quarter. BlackRock Inc. now owns 31,643,321 shares of the real estate investment trust’s stock worth $3,605,440,000 after purchasing an additional 258,811 shares during the period. State Street Corp grew 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 period. Morgan Stanley grew its position in shares of Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after acquiring an additional 1,064,382 shares during the period. FMR LLC grew its position in shares of Crown Castle by 14.3% during 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 acquiring an additional 1,496,330 shares during the period. Finally, Cohen & Steers Inc. grew its position 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 acquiring an additional 2,398,791 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI stock opened at $105.83 on Friday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market capitalization 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 company’s 50-day simple moving average is $107.87 and its two-hundred day simple moving average is $104.62. Crown Castle Inc. has a one year low of $84.72 and a one year high of $136.29.

Crown Castle Dividend Announcement

The business also recently announced 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 of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.92%. Crown Castle’s dividend payout ratio is currently 180.92%.

Analyst Upgrades and Downgrades

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

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.