MV Capital Management Inc. Lowers Position in Crown Castle Inc. (NYSE:CCI)

MV Capital Management Inc. trimmed its position in Crown Castle Inc. (NYSE:CCI) by 38.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 357 shares of the real estate investment trust’s stock after selling 221 shares during the period. MV Capital Management Inc.’s holdings in Crown Castle were worth $32,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in CCI. Vanguard Group Inc. grew its position in shares of Crown Castle by 10.5% in the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock worth $5,672,451,000 after buying an additional 5,934,615 shares during the period. State Street Corp grew its holdings in Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares during the period. Wellington Management Group LLP increased its stake in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after purchasing an additional 151,990 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $561,714,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $103.61 on Friday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business has a fifty day moving average of $94.20 and a 200 day moving average of $100.65. 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 $45.11 billion, a P/E ratio of 36.74 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.04%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is currently -69.71%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. Moffett Nathanson lowered their price target on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Citigroup upped their price target on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, March 14th. Raymond James upgraded shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Finally, JMP Securities assumed coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price on the stock. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $110.00.

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.