Crown Castle Inc. (NYSE:CCI) Shares Sold by River Road Asset Management LLC

River Road Asset Management LLC lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 50,303 shares of the real estate investment trust’s stock after selling 9,517 shares during the quarter. River Road Asset Management LLC’s holdings in Crown Castle were worth $4,566,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FNY Investment Advisers LLC boosted its position in shares of Crown Castle by 300.0% during 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 in the last quarter. Roxbury Financial LLC bought a new stake in Crown Castle in the fourth quarter worth $37,000. Investors Research Corp raised its position in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the period. Marshall Investment Management LLC bought a new stake in Crown Castle during the 4th quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new position in Crown Castle during the fourth quarter valued at about $53,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. Moffett Nathanson cut their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective 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. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Finally, Scotiabank cut their price target on 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 analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Trading Down 0.8 %

Shares of Crown Castle stock opened at $97.73 on Wednesday. The firm’s 50-day moving average price is $90.54 and its two-hundred day moving average price is $101.65. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month 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 company has a market capitalization of $42.47 billion, a price-to-earnings ratio of 34.66 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm 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 6.41%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is 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.