Atria Investments Inc Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Atria Investments Inc lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 26.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 37,333 shares of the real estate investment trust’s stock after selling 13,416 shares during the period. Atria Investments Inc’s holdings in Crown Castle were worth $3,388,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in CCI. Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle during the 3rd quarter worth approximately $47,000. Equitable Trust Co. boosted its position in shares of Crown Castle by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 283,299 shares of the real estate investment trust’s stock worth $33,608,000 after purchasing an additional 6,189 shares during the period. CWA Asset Management Group LLC purchased a new position in Crown Castle in the 3rd quarter valued at approximately $311,000. SpiderRock Advisors LLC boosted its position in Crown Castle by 13.7% in the 3rd quarter. SpiderRock Advisors LLC now owns 4,426 shares of the real estate investment trust’s stock valued at $525,000 after buying an additional 533 shares during the period. Finally, Assetmark Inc. boosted its position in Crown Castle by 24.1% in the 3rd quarter. Assetmark Inc. now owns 19,113 shares of the real estate investment trust’s stock valued at $2,267,000 after buying an additional 3,717 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $97.78 on Friday. The company’s fifty day moving average price is $90.22 and its 200 day moving average price is $101.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $42.49 billion, a P/E ratio of 34.67 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.40%. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

Several brokerages have commented on CCI. JMP Securities began coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average price target of $108.75.

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.