Amalgamated Bank Sells 2,108 Shares of Crown Castle Inc. (NYSE:CCI)

Amalgamated Bank cut its stake in Crown Castle Inc. (NYSE:CCI) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 83,292 shares of the real estate investment trust’s stock after selling 2,108 shares during the period. Amalgamated Bank’s holdings in Crown Castle were worth $7,560,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CCI. Wellington Management Group LLP raised its stake in shares of 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 acquiring an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised 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 purchasing an additional 3,225,460 shares during the period. State Street Corp lifted its stake in Crown Castle by 3.7% in the third 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 buying an additional 747,390 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Crown Castle by 25.4% in the third 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 purchasing an additional 642,010 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its position in Crown Castle by 70.0% during the 3rd quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock worth $100,836,000 after acquiring an additional 350,000 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on CCI. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Citigroup lowered their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Moffett Nathanson dropped their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Wells Fargo & Company lowered their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

CCI opened at $91.58 on Thursday. The stock has a market capitalization of $39.80 billion, a P/E ratio of 32.48 and a beta of 0.88. 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 50-day simple moving average is $89.63 and its two-hundred day simple moving average is $102.61. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.84%. Crown Castle’s dividend payout ratio is currently 221.99%.

Crown Castle Company 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.