Crown Castle Inc. (NYSE:CCI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 381,700 shares of the real estate investment trust’s stock after selling 10,051 shares during the quarter. Crown Castle comprises approximately 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 24th biggest position. Maryland State Retirement & Pension System’s holdings in Crown Castle were worth $34,643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Twin Tree Management LP acquired a new position in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC boosted 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 valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $37,000. Investors Research Corp boosted its holdings in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 154 shares during the period. Finally, Marshall Investment Management LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $50,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. Barclays increased their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $85.00 to $105.00 in a report on Monday. JPMorgan Chase & Co. cut their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle has an average rating of “Moderate Buy” and an average target price of $110.29.

Crown Castle Trading Up 1.9 %

NYSE:CCI opened at $104.90 on Wednesday. The stock has a fifty day moving average price of $91.64 and a two-hundred day moving average price of $101.21. The stock has a market capitalization of $45.59 billion, a price-to-earnings ratio of 37.20 and a beta of 0.89. 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 1 year low of $84.20 and a 1 year high of $120.92.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

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.