River Road Asset Management LLC Sells 9,517 Shares of Crown Castle Inc. (NYSE:CCI)

River Road Asset Management LLC trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,303 shares of the real estate investment trust’s stock after selling 9,517 shares during the period. River Road Asset Management LLC’s holdings in Crown Castle were worth $4,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC raised its stake in shares of Crown Castle by 300.0% in the fourth 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 during the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter worth approximately $37,000. Investors Research Corp grew its stake in Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 154 shares during the period. Marshall Investment Management LLC acquired a new position in shares of Crown Castle during the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in shares of Crown Castle during the fourth quarter valued at approximately $53,000. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CCI shares. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Moffett Nathanson cut their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. 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. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Finally, Citigroup reduced their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

CCI opened at $97.73 on Wednesday. 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 Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a 50-day moving average of $90.54 and a 200-day moving average of $101.65. The company has a market capitalization of $42.47 billion, a P/E ratio of 34.66 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm 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 6.41%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend 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.