Ironwood Investment Counsel LLC Sells 171 Shares of Crown Castle Inc. (NYSE:CCI)

Ironwood Investment Counsel LLC lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,911 shares of the real estate investment trust’s stock after selling 171 shares during the quarter. Ironwood Investment Counsel LLC’s holdings in Crown Castle were worth $900,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. FNY Investment Advisers LLC increased its position in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle during the 4th quarter valued at $37,000. Investors Research Corp increased its stake in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 154 shares in the last quarter. Marshall Investment Management LLC bought a new position in shares of Crown Castle in the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several research analyst reports. Citigroup dropped their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. JMP Securities initiated coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Scotiabank lowered their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Stock Performance

CCI opened at $94.92 on Friday. The firm has a market cap of $41.25 billion, a P/E ratio of 33.66 and a beta of 0.89. The business’s fifty day moving average is $90.74 and its 200-day moving average is $101.55. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.59%. The ex-dividend date of this dividend is Friday, March 14th. 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.