Naviter Wealth LLC Has $2.12 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Naviter Wealth LLC reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 32.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 23,330 shares of the real estate investment trust’s stock after selling 11,070 shares during the period. Naviter Wealth LLC’s holdings in Crown Castle were worth $2,117,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Catalyst Capital Advisors LLC acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC raised its holdings in shares of Crown Castle by 300.0% in 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 during the last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle in the fourth quarter valued at approximately $37,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Crown Castle in the third quarter valued at approximately $47,000. Finally, Investors Research Corp raised its holdings in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Trading Up 2.7 %

CCI stock opened at $97.78 on Friday. The company has a fifty day moving average price of $90.22 and a two-hundred day moving average price of $101.94. The stock has a market cap of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.40%. Crown Castle’s payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CCI shares. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup lowered their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Scotiabank lowered their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Finally, JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average price target of $108.75.

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.