Orion Portfolio Solutions LLC Sells 5,746 Shares of Crown Castle Inc. (NYSE:CCI)

Orion Portfolio Solutions LLC lessened its stake in Crown Castle Inc. (NYSE:CCI) by 8.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,189 shares of the real estate investment trust’s stock after selling 5,746 shares during the period. Orion Portfolio Solutions LLC’s holdings in Crown Castle were worth $5,735,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CCI. Vanguard Group Inc. grew its holdings in shares of Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. State Street Corp boosted its position in Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Crown Castle by 23.8% during the 3rd 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 increased its position 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 valued at $1,434,229,000 after purchasing an additional 151,990 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Crown Castle in the 4th quarter worth approximately $561,714,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on CCI shares. Moffett Nathanson reduced their price target on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Scotiabank dropped their price objective on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Argus upgraded Crown Castle to a “hold” rating in a research report on Friday, March 21st. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Up 1.0 %

Shares of NYSE:CCI opened at $103.61 on Friday. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. 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 company has a 50-day moving average price of $94.20 and a 200 day moving average price of $100.65.

Crown Castle Dividend Announcement

The business also recently disclosed 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. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is -69.71%.

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.