United Capital Financial Advisors LLC Cuts Position in Crown Castle Inc. (NYSE:CCI)

United Capital Financial Advisors LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,721 shares of the real estate investment trust’s stock after selling 7,324 shares during the period. United Capital Financial Advisors LLC’s holdings in Crown Castle were worth $2,970,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP grew its stake in shares of Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after buying an additional 4,608 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Crown Castle by 29.4% in the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Crown Castle in the 4th quarter worth approximately $1,231,000. Avanza Fonder AB bought a new position in shares of Crown Castle during the 4th quarter valued at approximately $3,083,000. Finally, American Century Companies Inc. lifted its position in Crown Castle by 3.4% in the fourth quarter. American Century Companies Inc. now owns 144,766 shares of the real estate investment trust’s stock worth $13,139,000 after buying an additional 4,772 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 2.2 %

Shares of NYSE CCI opened at $103.51 on Friday. The business has a fifty day moving average price of $97.48 and a 200 day moving average price of $98.91. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year 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 stock has a market capitalization of $45.07 billion, a P/E ratio of 36.71 and a beta of 0.93.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.05%. The ex-dividend date was Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $128.00 to $122.00 in a research note on Friday, March 14th. Barclays boosted their target price on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research note on Tuesday, March 25th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Crown Castle has an average rating of “Hold” and an average price target of $109.88.

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.