Wellington Shields Capital Management LLC Sells 2,100 Shares of Crown Castle Inc. (NYSE:CCI)

Wellington Shields Capital Management LLC decreased its holdings in Crown Castle Inc. (NYSE:CCI) by 63.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,200 shares of the real estate investment trust’s stock after selling 2,100 shares during the period. Wellington Shields Capital Management LLC’s holdings in Crown Castle were worth $109,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. State Street Corp raised its stake in Crown Castle by 3.7% in the 3rd 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 acquiring an additional 747,390 shares during the period. Wellington Management Group LLP raised its position in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. Geode Capital Management LLC lifted its stake in shares of Crown Castle by 1.3% during the 3rd 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 during the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after buying an additional 130,414 shares during the period. Finally, Barclays PLC grew its stake in Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after buying an additional 348,296 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their target price for the stock from $128.00 to $122.00 in a research note on Friday. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research report on Friday. Moffett Nathanson reduced their target price on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.12.

Crown Castle Price Performance

Crown Castle stock opened at $103.20 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market capitalization of $44.85 billion, a P/E ratio of 36.59 and a beta of 0.89. The stock has a fifty day moving average of $91.00 and a 200-day moving average of $101.49.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.07%. Crown Castle’s payout ratio is currently 221.99%.

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.