Crown Castle Inc. (NYSE:CCI) Shares Sold by Centersquare Investment Management LLC

Centersquare Investment Management LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 54.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 59,060 shares of the real estate investment trust’s stock after selling 71,677 shares during the period. Centersquare Investment Management LLC’s holdings in Crown Castle were worth $5,360,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Twin Tree Management LP bought a new stake in Crown Castle during the 4th quarter valued at $25,000. FNY Investment Advisers LLC boosted its position in shares of Crown Castle by 300.0% in the 4th 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 period. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the fourth quarter worth approximately $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle during the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Crown Castle in the 4th quarter worth about $53,000. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Scotiabank decreased their price target on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday, March 14th. 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. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a report on Friday, March 14th. Finally, KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Price Performance

Shares of NYSE CCI opened at $107.07 on Friday. The company’s 50-day moving average is $95.43 and its 200 day moving average is $100.38. 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 stock has a market capitalization of $46.62 billion, a P/E ratio of 37.97 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.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.