Stablepoint Partners LLC Sells 2,593 Shares of Crown Castle Inc. (NYSE:CCI)

Stablepoint Partners LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,294 shares of the real estate investment trust’s stock after selling 2,593 shares during the quarter. Stablepoint Partners LLC’s holdings in Crown Castle were worth $4,020,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle in the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton lifted its holdings in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Crown Castle in the third quarter valued at about $47,000. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE CCI opened at $88.49 on Friday. The firm’s fifty day moving average price is $95.29 and its two-hundred day moving average price is $105.30. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a market capitalization of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 7.07%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of research reports. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday. Scotiabank cut their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday. Finally, Wells Fargo & Company decreased their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus price target of $109.80.

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.