DnB Asset Management AS Lowers Holdings in Crown Castle Inc. (NYSE:CCI)

DnB Asset Management AS lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,912 shares of the real estate investment trust’s stock after selling 1,159 shares during the period. DnB Asset Management AS’s holdings in Crown Castle were worth $6,799,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in CCI. Twin Tree Management LP bought a new stake in shares of Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC increased its holdings in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle during the fourth quarter worth $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the 4th quarter valued at $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the 4th quarter valued at $53,000. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

CCI opened at $103.61 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a 50 day moving average of $94.20 and a two-hundred day moving average of $100.51. The firm has a market capitalization of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on CCI. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Scotiabank decreased their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Finally, Argus upgraded Crown Castle to a “hold” rating in a report on Friday, March 21st. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $110.00.

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.