CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Trims Stock Position in Crown Castle Inc. (NYSE:CCI)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 86.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,000 shares of the real estate investment trust’s stock after selling 62,998 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT’s holdings in Crown Castle were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in CCI. Moors & Cabot Inc. increased its holdings in Crown Castle by 3.4% in the first quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock valued at $505,000 after buying an additional 91 shares in the last quarter. Sequoia Financial Advisors LLC increased its holdings in Crown Castle by 33.4% in the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock valued at $730,000 after buying an additional 991 shares in the last quarter. Loomis Sayles & Co. L P grew its position in shares of Crown Castle by 4,497.6% in the first quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock valued at $1,052,000 after purchasing an additional 5,577 shares during the period. Brown Brothers Harriman & Co. grew its position in shares of Crown Castle by 12.3% in the first quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock valued at $886,000 after purchasing an additional 525 shares during the period. Finally, Covestor Ltd grew its position in shares of Crown Castle by 205.9% in the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock valued at $162,000 after purchasing an additional 591 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and lifted their target price for the company from $107.00 to $110.00 in a research report on Friday, January 19th. Wells Fargo & Company upgraded shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $90.00 to $115.00 in a research report on Tuesday, December 5th. Royal Bank of Canada boosted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Finally, HSBC assumed coverage on shares of Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price on the stock. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.33.

Crown Castle Stock Performance

NYSE:CCI traded up $3.66 during trading hours on Wednesday, reaching $105.59. 2,595,102 shares of the company’s stock were exchanged, compared to its average volume of 2,781,757. The firm has a market capitalization of $45.88 billion, a price-to-earnings ratio of 30.52, a P/E/G ratio of 2.75 and a beta of 0.74. The company has a 50-day moving average of $107.92 and a 200 day moving average of $104.61. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 1-year low of $84.72 and a 1-year high of $136.29.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 15th will be given a dividend of $1.565 per share. The ex-dividend date is Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.93%. Crown Castle’s payout ratio is currently 180.92%.

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.