Crown Castle Inc. (NYSE:CCI) Shares Sold by RFG Advisory LLC

RFG Advisory LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 19.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,524 shares of the real estate investment trust’s stock after selling 2,696 shares during the period. RFG Advisory LLC’s holdings in Crown Castle were worth $1,046,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CCI. Nordea Investment Management AB lifted its stake in Crown Castle by 29.4% during the 4th quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after acquiring an additional 282,821 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after purchasing an additional 31,319 shares during the period. Oak Thistle LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB acquired a new position in shares of Crown Castle in the fourth quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC increased its stake in Crown Castle by 4.2% during the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Royal Bank of Canada boosted their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. UBS Group increased their price target on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday. Finally, Scotiabank reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus target price of $109.80.

Crown Castle Stock Performance

NYSE CCI opened at $88.49 on Friday. The company has a fifty day moving average of $95.29 and a two-hundred day moving average of $105.30. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a market capitalization of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

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.