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

LPL Financial LLC trimmed its stake in shares of Crown Castle Inc. (NYSE:CCI) by 0.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 472,940 shares of the real estate investment trust’s stock after selling 1,519 shares during the quarter. LPL Financial LLC owned about 0.11% of Crown Castle worth $42,924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CCI. Wellington Management Group LLP increased its position in Crown Castle by 23.8% in 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Crown Castle by 433.8% during 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 acquiring an additional 3,225,460 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Crown Castle in the 4th quarter worth about $95,167,000. State Street Corp lifted its position in Crown Castle by 3.7% in 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 purchasing an additional 747,390 shares during the last quarter. Finally, Proficio Capital Partners LLC boosted its stake in Crown Castle by 9,471.0% during the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock valued at $748,000 after purchasing an additional 739,779 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

CCI opened at $103.61 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89. The business has a fifty day simple moving average of $94.20 and a 200-day simple moving average of $100.78. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.04%. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Ratings Changes

Several brokerages have commented on CCI. Scotiabank dropped their price target on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a research note on Friday, March 14th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price target for the stock from $128.00 to $122.00 in a research report on Friday, March 14th. Barclays raised their price target on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday, March 17th. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target 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.