Biltmore Family Office LLC Has $346,000 Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Biltmore Family Office LLC decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,814 shares of the real estate investment trust’s stock after selling 318 shares during the period. Biltmore Family Office LLC’s holdings in Crown Castle were worth $346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CCI. Vanguard Group Inc. lifted its holdings in shares of Crown Castle by 10.5% during the 4th quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after buying an additional 5,934,615 shares during the last quarter. State Street Corp grew its position 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 acquiring an additional 747,390 shares in the last quarter. Wellington Management Group LLP grew its position in Crown Castle by 18.9% in the fourth quarter. Wellington Management Group LLP now owns 20,849,846 shares of the real estate investment trust’s stock worth $1,892,332,000 after acquiring an additional 3,321,249 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Crown Castle by 1.9% during the 4th quarter. Geode Capital Management LLC now owns 12,333,158 shares of the real estate investment trust’s stock worth $1,119,225,000 after purchasing an additional 228,007 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Crown Castle in the 4th quarter valued at $561,714,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $103.82 on Thursday. 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 business’s fifty day moving average price is $95.06 and its two-hundred day moving average price is $100.33. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The stock has a market capitalization of $45.21 billion, a price-to-earnings ratio of 36.82 and a beta of 0.89.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend was Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CCI shares. Argus upgraded Crown Castle to a “hold” rating in a report on Friday, March 21st. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $85.00 to $105.00 in a report on Monday, March 17th. BMO Capital Markets reiterated a “market perform” rating on shares of Crown Castle in a report on Tuesday, March 25th. Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Finally, Citigroup raised their target price on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

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.