California Public Employees Retirement System Sells 13,676 Shares of Crown Castle Inc. (NYSE:CCI)

California Public Employees Retirement System lowered its holdings in Crown Castle Inc. (NYSE:CCI) by 0.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,971,990 shares of the real estate investment trust’s stock after selling 13,676 shares during the period. California Public Employees Retirement System owned approximately 0.45% of Crown Castle worth $178,978,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Summit Securities Group LLC lifted its position in Crown Castle by 367.0% during the fourth quarter. Summit Securities Group LLC now owns 1,401 shares of the real estate investment trust’s stock valued at $127,000 after purchasing an additional 1,101 shares during the last quarter. Schroder Investment Management Group raised its position in shares of Crown Castle by 34.1% during the 4th quarter. Schroder Investment Management Group now owns 117,827 shares of the real estate investment trust’s stock valued at $10,579,000 after buying an additional 29,973 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Crown Castle by 99.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 918,645 shares of the real estate investment trust’s stock worth $83,376,000 after acquiring an additional 458,476 shares during the last quarter. Allianz SE purchased a new position in Crown Castle in the fourth quarter worth $331,000. Finally, Allstate Corp increased its position in shares of Crown Castle by 124.2% during the 4th quarter. Allstate Corp now owns 19,425 shares of the real estate investment trust’s stock valued at $1,763,000 after purchasing an additional 10,761 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.0 %

Shares of Crown Castle stock opened at $103.61 on Monday. The company has a 50-day simple moving average of $94.20 and a two-hundred day simple moving average of $100.51. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $45.11 billion, a PE ratio of 36.74 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.04%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analyst Upgrades and Downgrades

CCI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a research note on Friday, March 14th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Finally, Moffett Nathanson decreased their price target on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have given 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 $110.00.

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.