Oppenheimer & Co. Inc. Sells 5,029 Shares of Crown Castle Inc. (NYSE:CCI)

Oppenheimer & Co. Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 23,628 shares of the real estate investment trust’s stock after selling 5,029 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Crown Castle were worth $2,144,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CCI. State Street Corp grew 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 valued at $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP boosted its position in shares of 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 purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock worth $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Barclays PLC grew its holdings in shares of Crown Castle by 7.2% in the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after buying an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after buying an additional 203,442 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.7 %

Shares of NYSE:CCI opened at $94.13 on Monday. The stock has a market cap of $40.91 billion, a PE ratio of 33.38 and a beta of 0.88. The company has a quick ratio of 0.54, a current 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 business has a 50 day moving average of $89.75 and a 200-day moving average of $102.32.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.65%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is 221.99%.

Analysts Set New Price Targets

A number of research firms have recently commented on CCI. Scotiabank dropped their price target on 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. Wells Fargo & Company cut their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. JMP Securities initiated 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 raised Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle 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.