Crown Castle Inc. (NYSE:CCI) Shares Sold by ClearBridge Investments Ltd

ClearBridge Investments Ltd reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 23.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,601,564 shares of the real estate investment trust’s stock after selling 493,748 shares during the period. Crown Castle makes up 3.8% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 13th largest holding. ClearBridge Investments Ltd owned about 0.37% of Crown Castle worth $145,358,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of CCI. Twin Tree Management LP purchased a new position in Crown Castle during the fourth quarter worth about $25,000. FNY Investment Advisers LLC grew its stake in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new position in Crown Castle during the fourth quarter worth about $37,000. Marshall Investment Management LLC acquired a new position in Crown Castle during the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the fourth quarter valued at $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $103.61 on Friday. The stock’s fifty day simple moving average is $94.20 and its 200-day simple moving average is $100.65. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 36.74 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on CCI shares. Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and decreased their price target for the stock from $128.00 to $122.00 in a report on Friday, March 14th. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. Eleven investment 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 company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.