California Public Employees Retirement System Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

California Public Employees Retirement System trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,971,990 shares of the real estate investment trust’s stock after selling 13,676 shares during the quarter. California Public Employees Retirement System’s holdings in Crown Castle were worth $178,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Twin Tree Management LP bought a new position in Crown Castle in the fourth quarter valued at about $25,000. FNY Investment Advisers LLC lifted its stake in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC bought a new stake in Crown Castle during the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC purchased a new stake in Crown Castle during the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Crown Castle during the fourth quarter valued at approximately $53,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CCI. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Moffett Nathanson reduced their price target on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and lowered their price objective for the company from $128.00 to $122.00 in a research report on Friday, March 14th. 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 report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. 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’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Price Performance

NYSE:CCI opened at $103.61 on Monday. The business’s 50-day moving average is $94.20 and its 200 day moving average is $100.51. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market capitalization of $45.11 billion, a P/E ratio of 36.74 and a beta of 0.89. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.04%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -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.