Gulf International Bank UK Ltd Reduces Stake in Crown Castle Inc. (NYSE:CCI)

Gulf International Bank UK Ltd lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 1.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 33,938 shares of the real estate investment trust’s stock after selling 355 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Crown Castle were worth $3,080,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC purchased a new stake in Crown Castle in the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton raised its position in shares of Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC bought a new position in shares of Crown Castle in the 4th quarter worth approximately $37,000. Finally, Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle in the 3rd quarter worth approximately $47,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Wells Fargo & Company decreased their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Moffett Nathanson reduced their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and an average price target of $108.75.

Crown Castle Stock Performance

CCI stock opened at $94.13 on Friday. The company has a market cap of $40.91 billion, a P/E ratio of 33.38 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year 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 stock’s fifty day moving average price is $89.75 and its 200-day moving average price is $102.43.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.65%. Crown Castle’s dividend payout ratio (DPR) 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.