Cullen Capital Management LLC Has $99.40 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

Cullen Capital Management LLC lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,095,142 shares of the real estate investment trust’s stock after selling 19,586 shares during the quarter. Cullen Capital Management LLC owned approximately 0.25% of Crown Castle worth $99,395,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Versor Investments LP increased its holdings in shares of Crown Castle by 120.0% during the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after acquiring an additional 4,608 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Crown Castle by 29.4% during the fourth 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 period. Oak Thistle LLC acquired a new stake in Crown Castle during the 4th quarter worth approximately $1,231,000. Avanza Fonder AB bought a new stake in Crown Castle in the 4th quarter valued at $3,083,000. Finally, Citizens Business Bank acquired a new position in Crown Castle in the 3rd quarter valued at $620,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CCI. Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. Argus upgraded shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. Scotiabank reduced their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research report on Friday, March 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Trading Down 5.8 %

CCI opened at $100.89 on Friday. The company has a market cap of $43.93 billion, a P/E ratio of 35.78 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company’s 50 day moving average is $95.67 and its 200-day moving average is $100.24. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. Crown Castle’s dividend payout ratio is currently -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.