Cannell & Spears LLC Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

Cannell & Spears LLC cut its holdings in Crown Castle Inc. (NYSE:CCI) by 7.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 11,960 shares of the real estate investment trust’s stock after selling 980 shares during the period. Cannell & Spears LLC’s holdings in Crown Castle were worth $1,085,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in CCI. Twin Tree Management LP bought a new position in shares of Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC grew its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new position in shares of Crown Castle during the 4th quarter valued at $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle in the 4th quarter worth approximately $53,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $104.39 on Tuesday. The business has a fifty day moving average price of $94.47 and a 200-day moving average price of $100.40. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $45.45 billion, a PE ratio of 37.02 and a beta of 0.89. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.00%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. 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 research report on Thursday, January 23rd. BMO Capital Markets reaffirmed a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research report on Friday, March 14th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

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.