BI Asset Management Fondsmaeglerselskab A S Reduces Holdings in Crown Castle Inc. (NYSE:CCI)

BI Asset Management Fondsmaeglerselskab A S reduced its position in Crown Castle Inc. (NYSE:CCI) by 16.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,021 shares of the real estate investment trust’s stock after selling 5,215 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Crown Castle were worth $2,452,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of CCI. Twin Tree Management LP purchased a new stake in Crown Castle during the 4th quarter worth approximately $25,000. FNY Investment Advisers LLC increased 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 buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle in the fourth quarter valued at $37,000. Marshall Investment Management LLC acquired a new position in Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle in the 4th quarter worth about $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CCI. Moffett Nathanson decreased their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. StockNews.com raised Crown Castle from a “sell” rating to a “hold” rating in a research report on Saturday. 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 report on Monday, March 17th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $85.00 to $105.00 in a research report on Monday, March 17th. Finally, Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $109.88.

Crown Castle Stock Up 2.2 %

Crown Castle stock opened at $103.51 on Monday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock has a market cap of $45.07 billion, a price-to-earnings ratio of 36.71 and a beta of 0.93. The company’s 50-day moving average price is $97.73 and its two-hundred day moving average price is $98.57. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.05%. Crown Castle’s dividend payout ratio is presently -69.71%.

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.