Front Row Advisors LLC Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Front Row Advisors LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,512 shares of the real estate investment trust’s stock after selling 987 shares during the period. Front Row Advisors LLC’s holdings in Crown Castle were worth $1,045,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Intech Investment Management LLC acquired a new stake in Crown Castle in the 3rd quarter valued at about $518,000. Townsquare Capital LLC raised its holdings in Crown Castle by 25.9% in the third quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $694,000 after acquiring an additional 1,203 shares in the last quarter. Captrust Financial Advisors lifted its stake in Crown Castle by 21.5% in the third quarter. Captrust Financial Advisors now owns 17,919 shares of the real estate investment trust’s stock worth $2,126,000 after acquiring an additional 3,176 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Crown Castle during the 3rd quarter worth approximately $1,318,000. Finally, Kestra Investment Management LLC acquired a new position in Crown Castle during the 3rd quarter worth approximately $297,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Up 0.8 %

Shares of Crown Castle stock opened at $104.39 on Tuesday. The company has a 50-day moving average of $94.47 and a two-hundred day moving average of $100.40. The stock has a market cap of $45.45 billion, a PE ratio of 37.02 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. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.00%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CCI. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Barclays lifted 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. Argus raised shares of Crown Castle to a “hold” rating in a research report on Friday, March 21st. Scotiabank cut their target price 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, UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price for the company 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. Based on data from MarketBeat, Crown Castle currently has an average rating of “Moderate Buy” and an average price target 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.