Crown Castle Inc. (NYSE:CCI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in Crown Castle Inc. (NYSE:CCI) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 997,800 shares of the real estate investment trust’s stock after selling 61,500 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Crown Castle were worth $90,561,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of CCI. GSA Capital Partners LLP acquired a new stake in Crown Castle in the 3rd quarter valued at about $522,000. Empowered Funds LLC lifted its holdings in Crown Castle by 13.5% in the 3rd quarter. Empowered Funds LLC now owns 12,842 shares of the real estate investment trust’s stock valued at $1,523,000 after acquiring an additional 1,531 shares during the last quarter. TrinityPoint Wealth LLC acquired a new stake in Crown Castle in the 3rd quarter valued at about $255,000. Quest Partners LLC lifted its holdings in Crown Castle by 3,111.6% in the 3rd quarter. Quest Partners LLC now owns 13,328 shares of the real estate investment trust’s stock valued at $1,581,000 after acquiring an additional 12,913 shares during the last quarter. Finally, Pathstone Holdings LLC lifted its holdings in Crown Castle by 0.6% in the 3rd quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust’s stock valued at $4,980,000 after acquiring an additional 230 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CCI. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a report on Friday, March 14th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Citigroup upped their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective for the company in a research note on Friday, March 14th. Eleven 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 company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus target price of $110.29.

Crown Castle Price Performance

Shares of CCI opened at $104.90 on Wednesday. The company has a market capitalization of $45.59 billion, a price-to-earnings ratio of 37.20 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week 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 business’s 50-day moving average is $91.64 and its 200-day moving average is $101.21.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.97%. Crown Castle’s dividend payout ratio is -69.71%.

About Crown Castle

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.