Crown Castle Inc. (NYSE:CCI) Shares Sold by TIAA Trust National Association

TIAA Trust National Association reduced its stake in shares of Crown Castle Inc. (NYSE:CCI) by 5.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,581 shares of the real estate investment trust’s stock after selling 143 shares during the period. TIAA Trust National Association’s holdings in Crown Castle were worth $234,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. EntryPoint Capital LLC purchased a new stake in Crown Castle during the 4th quarter valued at about $327,000. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 10.5% during the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after purchasing an additional 5,934,615 shares during the period. Stevens Capital Management LP purchased a new stake in Crown Castle in the fourth quarter valued at approximately $984,000. KLP Kapitalforvaltning AS acquired a new position in Crown Castle in the 4th quarter worth approximately $13,512,000. Finally, Umpqua Bank raised its position in Crown Castle by 22.3% during the 4th quarter. Umpqua Bank now owns 6,228 shares of the real estate investment trust’s stock worth $540,000 after buying an additional 1,136 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Up 1.0 %

CCI stock opened at $103.61 on Friday. 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 has a market capitalization of $45.11 billion, a P/E ratio of 36.74 and a beta of 0.89. The firm has a 50-day simple moving average of $94.20 and a 200-day simple moving average of $100.78.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. JPMorgan Chase & Co. lowered their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research note on Monday, March 17th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Scotiabank reduced their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research report on Friday, March 14th. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

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.