Crown Castle Inc. (NYSE:CCI) Shares Sold by Huntington National Bank

Huntington National Bank cut its stake in Crown Castle Inc. (NYSE:CCI) by 32.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,580 shares of the real estate investment trust’s stock after selling 36,868 shares during the period. Huntington National Bank’s holdings in Crown Castle were worth $6,860,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Crown Castle in the 4th quarter valued at $561,714,000. Vanguard Group Inc. boosted its stake in Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after purchasing an additional 5,934,615 shares during the period. Wellington Management Group LLP grew its position in Crown Castle by 23.8% during the 3rd 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 purchasing an additional 3,371,186 shares during the last quarter. National Bank of Canada FI increased its stake in Crown Castle by 37.3% in the fourth quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock valued at $525,849,000 after purchasing an additional 1,573,043 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Crown Castle in the fourth quarter valued at about $95,167,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Down 0.8 %

CCI opened at $103.82 on Thursday. The company has a market capitalization of $45.21 billion, a PE ratio of 36.82 and a beta of 0.89. The business has a 50-day moving average of $95.06 and a 200-day moving average of $100.33. 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 Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Argus upgraded shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company in a research note on Friday, March 14th. Barclays boosted their price target on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Finally, Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $128.00 to $122.00 in a research report on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

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.