Crown Castle Inc. (NYSE:CCI) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 381,700 shares of the real estate investment trust’s stock after selling 10,051 shares during the quarter. Crown Castle makes up about 0.7% of Maryland State Retirement & Pension System’s portfolio, making the stock its 24th biggest holding. Maryland State Retirement & Pension System owned approximately 0.09% of Crown Castle worth $34,643,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Wellington Management Group LLP boosted its position in shares of Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after buying an additional 3,225,460 shares during the period. Raymond James Financial Inc. purchased a new stake in Crown Castle in the 4th quarter valued at about $95,167,000. State Street Corp raised its holdings in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after buying an additional 747,390 shares during the period. Finally, Proficio Capital Partners LLC raised its holdings in Crown Castle by 9,471.0% in the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock valued at $748,000 after buying an additional 739,779 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of Crown Castle stock opened at $104.90 on Wednesday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a market cap of $45.59 billion, a PE ratio of 37.20 and a beta of 0.89. 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 business has a 50-day simple moving average of $91.64 and a 200-day simple moving average of $101.21.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Wall Street Analysts Forecast Growth

CCI has been the topic of several research analyst reports. Moffett Nathanson reduced their price objective on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday. Scotiabank reduced their price objective on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday, March 14th. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a report on Friday, March 14th. Finally, UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Friday, March 14th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

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.