Mine & Arao Wealth Creation & Management LLC. Sells 1,548 Shares of Crown Castle Inc. (NYSE:CCI)

Mine & Arao Wealth Creation & Management LLC. decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 40.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,298 shares of the real estate investment trust’s stock after selling 1,548 shares during the period. Mine & Arao Wealth Creation & Management LLC.’s holdings in Crown Castle were worth $209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Cibc World Market Inc. lifted its stake in Crown Castle by 238.7% in the fourth quarter. Cibc World Market Inc. now owns 204,832 shares of the real estate investment trust’s stock worth $18,591,000 after purchasing an additional 144,357 shares during the last quarter. Mediolanum International Funds Ltd boosted its position in Crown Castle by 2.2% during the fourth quarter. Mediolanum International Funds Ltd now owns 43,590 shares of the real estate investment trust’s stock valued at $3,904,000 after purchasing an additional 921 shares in the last quarter. Capital Investment Advisory Services LLC raised its stake in Crown Castle by 60.0% in the fourth quarter. Capital Investment Advisory Services LLC now owns 12,083 shares of the real estate investment trust’s stock valued at $1,097,000 after buying an additional 4,529 shares during the last quarter. OLD National Bancorp IN grew its position in Crown Castle by 2.4% during the 4th quarter. OLD National Bancorp IN now owns 99,141 shares of the real estate investment trust’s stock worth $8,998,000 after purchasing an additional 2,299 shares during the last quarter. Finally, Busey Bank grew its position in Crown Castle by 3.5% during the 4th quarter. Busey Bank now owns 80,139 shares of the real estate investment trust’s stock worth $7,273,000 after purchasing an additional 2,724 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $88.99 on Friday. 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 firm has a market cap of $38.67 billion, a price-to-earnings ratio of 31.56 and a beta of 0.87. The stock’s fifty day moving average price is $94.42 and its two-hundred day moving average price is $105.12. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.03%. Crown Castle’s dividend payout ratio is 221.99%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CCI shares. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday. Royal Bank of Canada upped their price objective on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a report on Monday, October 28th. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company cut their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $110.13.

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.