King Luther Capital Management Corp Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

King Luther Capital Management Corp decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 23.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,640 shares of the real estate investment trust’s stock after selling 1,403 shares during the period. King Luther Capital Management Corp’s holdings in Crown Castle were worth $421,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Versor Investments LP lifted its holdings in Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 4,608 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC purchased a new position in Crown Castle in the 4th quarter valued at about $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle in the 4th quarter worth about $3,083,000. Finally, Fisher Asset Management LLC boosted its holdings in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Scotiabank decreased their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities assumed coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Crown Castle presently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

CCI stock opened at $94.92 on Friday. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market cap of $41.25 billion, a price-to-earnings ratio of 33.66 and a beta of 0.89. The business has a fifty day moving average of $90.74 and a two-hundred day moving average of $101.55.

Crown Castle Announces Dividend

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. This represents a $6.26 annualized dividend and a yield of 6.59%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) 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.