New York Life Investment Management LLC Has $5.87 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

New York Life Investment Management LLC reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 46.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,636 shares of the real estate investment trust’s stock after selling 55,309 shares during the period. New York Life Investment Management LLC’s holdings in Crown Castle were worth $5,866,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after buying an additional 151,990 shares in the last quarter. Barclays PLC increased its holdings in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares in the last quarter. Finally, Fisher Asset Management LLC increased its holdings in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Stock Performance

Shares of CCI opened at $94.13 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $40.91 billion, a P/E ratio of 33.38 and a beta of 0.88. The firm’s fifty day simple moving average is $89.75 and its two-hundred day simple moving average is $102.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.65%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCI. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $108.75.

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.