Pitcairn Co. Has $294,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Pitcairn Co. reduced its position in Crown Castle Inc. (NYSE:CCI) by 14.9% in the 4th quarter, HoldingsChannel reports. The firm owned 3,244 shares of the real estate investment trust’s stock after selling 570 shares during the period. Pitcairn Co.’s holdings in Crown Castle were worth $294,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCI. Twin Tree Management LP bought a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC raised its stake in 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 valued at $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC acquired a new stake in Crown Castle during the 4th quarter valued at $37,000. Marshall Investment Management LLC bought a new position in Crown Castle during the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle in the fourth quarter valued at $53,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 5.8 %

Shares of Crown Castle stock opened at $100.89 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. 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 $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.93. The firm’s 50-day moving average price is $95.67 and its two-hundred day moving average price is $99.98.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.20%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s payout ratio is presently -69.71%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CCI. Bank of America assumed coverage on shares of Crown Castle in a research note on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Argus upgraded Crown Castle to a “hold” rating in a research note on Friday, March 21st. Eleven equities research 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, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

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.