Legacy Financial Advisors Inc. Decreases Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Legacy Financial Advisors Inc. lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 15.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,522 shares of the real estate investment trust’s stock after selling 467 shares during the period. Legacy Financial Advisors Inc.’s holdings in Crown Castle were worth $229,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. F M Investments LLC grew its position in Crown Castle by 19.0% during the fourth quarter. F M Investments LLC now owns 13,472 shares of the real estate investment trust’s stock valued at $1,223,000 after buying an additional 2,152 shares during the period. Bessemer Group Inc. grew its position in shares of Crown Castle by 1.3% during the 4th quarter. Bessemer Group Inc. now owns 71,742 shares of the real estate investment trust’s stock valued at $6,512,000 after acquiring an additional 928 shares during the period. APG Asset Management N.V. purchased a new stake in shares of Crown Castle during the 4th quarter worth approximately $20,773,000. Renaissance Technologies LLC bought a new stake in shares of Crown Castle in the 4th quarter worth approximately $2,442,000. Finally, Bank of Nova Scotia raised its holdings in shares of Crown Castle by 12.5% in the 4th quarter. Bank of Nova Scotia now owns 63,312 shares of the real estate investment trust’s stock worth $5,746,000 after purchasing an additional 7,043 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CCI. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a report on Friday, March 14th. StockNews.com downgraded shares of Crown Castle from a “hold” rating to a “sell” rating in a report on Friday. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. One research analyst has rated the stock with a sell rating, eleven have given 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, Crown Castle has a consensus rating of “Hold” and a consensus target price of $109.88.

Crown Castle Stock Up 1.6 %

Shares of NYSE CCI opened at $96.65 on Friday. 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 business has a 50-day moving average of $96.56 and a 200-day moving average of $99.21. The firm has a market capitalization of $42.09 billion, a price-to-earnings ratio of 34.27 and a beta of 0.93. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.48%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

Crown Castle Company 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.