HB Wealth Management LLC Lowers Stake in Crown Castle Inc. (NYSE:CCI)

HB Wealth Management LLC cut its position in Crown Castle Inc. (NYSE:CCI) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,756 shares of the real estate investment trust’s stock after selling 719 shares during the quarter. HB Wealth Management LLC’s holdings in Crown Castle were worth $885,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Trail Advisors LLC lifted its holdings in shares of Crown Castle by 16.7% in the second quarter. Summit Trail Advisors LLC now owns 4,916 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 704 shares in the last quarter. Profund Advisors LLC boosted its stake in Crown Castle by 2.9% during the second quarter. Profund Advisors LLC now owns 6,729 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 188 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in Crown Castle by 55,756.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,937 shares of the real estate investment trust’s stock valued at $873,000 after buying an additional 8,921 shares in the last quarter. Gabelli Funds LLC increased its stake in Crown Castle by 1.1% in the 2nd quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock worth $4,573,000 after acquiring an additional 500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Crown Castle by 31.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock worth $122,000 after acquiring an additional 301 shares in the last quarter. 90.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CCI. TD Cowen decreased their price target on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Barclays upgraded 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 research report on Monday, January 13th. Finally, Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, Crown Castle presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Down 0.5 %

Shares of CCI stock opened at $90.62 on Wednesday. The stock’s fifty day moving average price is $96.40 and its 200 day moving average price is $105.63. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 32.14 and a beta of 0.87.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.91%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is presently 221.99%.

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.