Granite Investment Partners LLC Sells 4,454 Shares of Crown Castle Inc. (NYSE:CCI)

Granite Investment Partners LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 25.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 13,135 shares of the real estate investment trust’s stock after selling 4,454 shares during the period. Granite Investment Partners LLC’s holdings in Crown Castle were worth $1,192,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

CCI has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Argus upgraded Crown Castle to a “hold” rating in a research report on Friday, March 21st. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Finally, Bank of America assumed coverage on shares of Crown Castle in a research report on Thursday, March 20th. They set a “neutral” rating and a $110.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $109.88.

Crown Castle Trading Up 1.6 %

CCI opened at $96.65 on Monday. The stock has a 50-day moving average of $96.56 and a 200 day moving average of $99.10. 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 Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The firm has a market cap of $42.09 billion, a P/E ratio of 34.27 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.48%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) 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.