Sheets Smith Wealth Management Sells 165 Shares of Crown Castle Inc. (NYSE:CCI)

Sheets Smith Wealth Management lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,085 shares of the real estate investment trust’s stock after selling 165 shares during the period. Sheets Smith Wealth Management’s holdings in Crown Castle were worth $552,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its holdings in shares of Crown Castle by 23.8% in the 3rd 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 purchasing an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted 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 valued at $470,838,000 after buying an additional 3,225,460 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Crown Castle by 13,271.6% in the 3rd quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock worth $115,449,000 after buying an additional 965,907 shares in the last quarter. State Street Corp raised 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 worth $2,476,470,000 after buying an additional 747,390 shares during the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Crown Castle by 25.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after acquiring an additional 642,010 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

CCI stock opened at $88.41 on Thursday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The company’s fifty day moving average price is $96.17 and its 200-day moving average price is $105.59. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market capitalization of $38.42 billion, a PE ratio of 31.35 and a beta of 0.87.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 7.08%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Wall Street Analyst Weigh In

CCI has been the subject of a number of research analyst reports. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company downgraded Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $105.00 to $100.00 in a report on Tuesday, December 10th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.00.

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.