Crown Castle Inc. (NYSE:CCI) Position Trimmed by Vestcor Inc

Vestcor Inc decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,624 shares of the real estate investment trust’s stock after selling 1,828 shares during the period. Vestcor Inc’s holdings in Crown Castle were worth $2,961,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. State Street Corp increased its stake 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 valued at $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Crown Castle by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock worth $473,625,000 after acquiring an additional 130,414 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CCI. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Citigroup lowered their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Scotiabank reduced their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Shares of CCI opened at $94.92 on Friday. The company has a market capitalization of $41.25 billion, a price-to-earnings ratio of 33.66 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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. The business’s 50-day moving average is $90.74 and its 200-day moving average is $101.55.

Crown Castle Dividend Announcement

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 issued 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 6.59%. Crown Castle’s dividend payout ratio is 221.99%.

About Crown Castle

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.