Crown Castle Inc. (NYSE:CCI) Stock Position Cut by Ballentine Partners LLC

Ballentine Partners LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,535 shares of the real estate investment trust’s stock after selling 657 shares during the quarter. Ballentine Partners LLC’s holdings in Crown Castle were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle in the third quarter worth approximately $25,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC boosted its stake 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 buying an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in Crown Castle during the third quarter worth about $47,000. Finally, Friedenthal Financial bought a new stake in Crown Castle in the third quarter worth about $50,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. UBS Group increased their price objective on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. TD Cowen decreased their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $113.00.

Crown Castle Stock Performance

Shares of CCI opened at $88.41 on Thursday. The company has a market capitalization of $38.42 billion, a PE ratio of 31.35 and a beta of 0.87. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company’s 50 day moving average price is $96.17 and its 200 day moving average price is $105.59. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.