Jacobi Capital Management LLC Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Jacobi Capital Management LLC cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 20.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,173 shares of the real estate investment trust’s stock after selling 1,554 shares during the period. Jacobi Capital Management LLC’s holdings in Crown Castle were worth $560,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in CCI. Wellington Management Group LLP boosted its holdings in Crown Castle by 23.8% during the third 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 buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares in the last quarter. State Street Corp boosted its holdings in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after buying an additional 739,779 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after buying an additional 642,010 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CCI. Moffett Nathanson lowered their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $117.00 to $104.00 in a report on Monday, January 13th. Jefferies Financial Group downgraded shares of 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 report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Stock Performance

NYSE CCI opened at $94.13 on Monday. The stock’s fifty day moving average is $89.75 and its two-hundred day moving average is $102.32. The firm has a market capitalization of $40.91 billion, a P/E ratio of 33.38 and a beta of 0.88. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current 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 Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

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.