Crown Castle Inc. (NYSE:CCI) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 53,982 shares of the real estate investment trust’s stock after selling 623 shares during the quarter. Linscomb Wealth Inc.’s holdings in Crown Castle were worth $4,899,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in 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 valued at $2,079,417,000 after buying an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in 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 last quarter. State Street Corp increased its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the last quarter. Proficio Capital Partners LLC raised its stake in Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after purchasing an additional 739,779 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Crown Castle by 25.4% in 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 purchasing an additional 642,010 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on CCI shares. JMP Securities began coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Citigroup decreased their target price on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company cut their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Up 2.1 %

Shares of NYSE CCI opened at $93.58 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock’s 50-day simple moving average is $89.69 and its 200-day simple moving average is $102.55. The firm has a market cap of $40.67 billion, a price-to-earnings ratio of 33.18 and a beta of 0.88.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is 221.99%.

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.