Crown Castle Inc. (NYSE:CCI) Holdings Trimmed by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 13.8% during the 4th quarter, HoldingsChannel reports. The firm owned 34,569 shares of the real estate investment trust’s stock after selling 5,516 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Crown Castle were worth $3,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CCI. Versor Investments LP lifted its stake in shares of Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock valued at $767,000 after purchasing an additional 4,608 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Crown Castle by 29.4% in the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Crown Castle in the 4th quarter valued at $1,231,000. Avanza Fonder AB acquired a new stake in shares of Crown Castle in the 4th quarter valued at $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their target price for the stock from $128.00 to $122.00 in a report on Friday. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a report on Friday. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JMP Securities began coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price objective 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Price Performance

NYSE:CCI opened at $103.20 on Friday. The firm has a market cap of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company’s 50-day moving average price is $91.00 and its two-hundred day moving average price is $101.40.

Crown Castle Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.07%. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Crown Castle 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.