Schnieders Capital Management LLC Sells 2,130 Shares of Crown Castle Inc. (NYSE:CCI)

Schnieders Capital Management LLC cut its stake in shares of Crown Castle Inc. (NYSE:CCI) by 40.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,105 shares of the real estate investment trust’s stock after selling 2,130 shares during the quarter. Schnieders Capital Management LLC’s holdings in Crown Castle were worth $282,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nordea Investment Management AB increased its position 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 acquiring an additional 282,821 shares during the period. Van ECK Associates Corp increased its position in shares of Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after acquiring an additional 31,319 shares during the period. Oak Thistle LLC purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $1,231,000. Avanza Fonder AB purchased a new position in shares of Crown Castle during the fourth quarter worth approximately $3,083,000. Finally, Fisher Asset Management LLC increased its position in shares of Crown Castle by 4.2% during the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Scotiabank reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, 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 objective for the company. One investment 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Performance

Shares of CCI stock opened at $91.58 on Thursday. The business’s fifty day simple moving average is $89.63 and its 200-day simple moving average is $102.61. The company has a market cap of $39.80 billion, a PE ratio of 32.48 and a beta of 0.88. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.84%. Crown Castle’s payout ratio is presently 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.