Crown Castle Inc. (NYSE:CCI) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 112,277 shares of the real estate investment trust’s stock after selling 4,993 shares during the quarter. Corebridge Financial Inc.’s holdings in Crown Castle were worth $10,190,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after purchasing an additional 5,934,615 shares during the last quarter. Wellington Management Group LLP boosted its holdings in 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 buying an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after buying an additional 3,225,460 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Crown Castle in the fourth quarter worth approximately $95,167,000. Finally, State Street Corp lifted its position in shares of Crown Castle by 3.7% during the 3rd 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 acquiring an additional 747,390 shares during the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Stock Up 0.6 %

CCI opened at $101.04 on Thursday. The company has a market capitalization of $44.00 billion, a PE ratio of 35.83 and a beta of 0.89. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92. The business has a 50-day moving average of $93.71 and a 200-day moving average of $100.86.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.20%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is presently -69.71%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCI. Wolfe Research raised Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Argus upgraded shares of Crown Castle to a “hold” rating in a report on Friday, March 21st. JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.