Davis Selected Advisers Sells 290 Shares of Crown Castle Inc. (NYSE:CCI)

Davis Selected Advisers reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,260 shares of the real estate investment trust’s stock after selling 290 shares during the quarter. Davis Selected Advisers’ holdings in Crown Castle were worth $3,745,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after buying an additional 3,225,460 shares during the last quarter. Raymond James Financial Inc. bought a new position in Crown Castle in the 4th quarter valued at about $95,167,000. State Street Corp lifted its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in shares of Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after acquiring an additional 739,779 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Scotiabank lowered their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JMP Securities initiated coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, Wells Fargo & Company cut their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Trading Up 2.7 %

CCI opened at $97.78 on Friday. The company’s 50 day moving average is $90.22 and its 200-day moving average is $101.94. The company has a market cap of $42.49 billion, a P/E ratio of 34.67 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. 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 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. 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%.

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.