Corient Private Wealth LLC Reduces Stock Position in Crown Castle Inc. (NYSE:CCI)

Corient Private Wealth LLC trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 316,578 shares of the real estate investment trust’s stock after selling 74,327 shares during the period. Corient Private Wealth LLC’s holdings in Crown Castle were worth $28,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Accurate Wealth Management LLC boosted its position in shares of Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 124 shares during the period. Exchange Traded Concepts LLC lifted its stake in Crown Castle by 12.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares in the last quarter. IFP Advisors Inc boosted its holdings in Crown Castle by 5.9% in the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares during the period. Howard Capital Management Inc. grew its position in shares of Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after purchasing an additional 135 shares in the last quarter. Finally, Cidel Asset Management Inc. increased its holdings in shares of Crown Castle by 6.4% in the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 137 shares during the period. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.9 %

Shares of NYSE CCI opened at $104.90 on Wednesday. The firm has a fifty day simple moving average of $91.64 and a two-hundred day simple moving average of $101.21. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market capitalization of $45.59 billion, a PE ratio of 37.20 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 5.97%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and dropped their price target for the company from $128.00 to $122.00 in a research report on Friday, March 14th. JMP Securities initiated coverage on shares of Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Friday, March 14th. Finally, UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $110.29.

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.