Stock Yards Bank & Trust Co. Cuts Position in Crown Castle Inc. (NYSE:CCI)

Stock Yards Bank & Trust Co. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 22.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,792 shares of the real estate investment trust’s stock after selling 3,443 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Crown Castle were worth $1,070,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in CCI. Golden State Equity Partners increased its position in Crown Castle by 47.9% during the 4th quarter. Golden State Equity Partners now owns 5,580 shares of the real estate investment trust’s stock valued at $506,000 after buying an additional 1,808 shares in the last quarter. Avantra Family Wealth Inc. bought a new position in shares of Crown Castle during the fourth quarter valued at $239,000. Inlet Private Wealth LLC raised its position in shares of Crown Castle by 62.2% in the 4th quarter. Inlet Private Wealth LLC now owns 50,533 shares of the real estate investment trust’s stock worth $4,586,000 after purchasing an additional 19,370 shares during the last quarter. Keudell Morrison Wealth Management raised its position in shares of Crown Castle by 15.8% in the 4th quarter. Keudell Morrison Wealth Management now owns 6,128 shares of the real estate investment trust’s stock worth $556,000 after purchasing an additional 836 shares during the last quarter. Finally, Sonora Investment Management Group LLC bought a new position in Crown Castle in the 4th quarter worth about $485,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock opened at $89.39 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The stock’s 50-day simple moving average is $93.78 and its 200-day simple moving average is $104.91. The company has a market capitalization of $38.85 billion, a price-to-earnings ratio of 31.70 and a beta of 0.88.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 7.00%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is currently 221.99%.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup set a $128.00 price objective on shares of Crown Castle in a research note on Thursday, October 17th. UBS Group boosted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada lifted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle currently has an average rating of “Hold” and an average target price of $110.13.

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.