Crown Castle Inc. (NYSE:CCI) Stock Holdings Lessened by West Paces Advisors Inc.

West Paces Advisors Inc. trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 38.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 637 shares of the real estate investment trust’s stock after selling 396 shares during the quarter. West Paces Advisors Inc.’s holdings in Crown Castle were worth $73,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in CCI. Norges Bank purchased a new stake in shares of Crown Castle in the fourth quarter worth approximately $642,077,000. Moneta Group Investment Advisors LLC raised its position in Crown Castle by 90,084.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock valued at $473,035,000 after acquiring an additional 3,483,563 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Crown Castle by 42.8% during the third quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock valued at $651,910,000 after acquiring an additional 2,121,603 shares in the last quarter. Barclays PLC raised its position in Crown Castle by 217.9% during the third quarter. Barclays PLC now owns 3,058,133 shares of the real estate investment trust’s stock valued at $281,439,000 after acquiring an additional 2,096,272 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Crown Castle by 21.9% during the third quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after acquiring an additional 1,818,910 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised shares of Crown Castle from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $107.00 to $110.00 in a research report on Friday, January 19th. Royal Bank of Canada raised their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $118.93.

Crown Castle Trading Down 1.8 %

NYSE:CCI opened at $93.96 on Wednesday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $134.09. The firm has a market cap of $40.83 billion, a price-to-earnings ratio of 27.15, a P/E/G ratio of 2.54 and a beta of 0.73. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. The company’s 50 day moving average is $105.69 and its 200-day moving average is $105.23.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.66%. Crown Castle’s payout ratio is 180.92%.

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.