Crown Castle Inc. (NYSE:CCI) Shares Sold by Premier Path Wealth Partners LLC

Premier Path Wealth Partners LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 17.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,869 shares of the real estate investment trust’s stock after selling 619 shares during the period. Premier Path Wealth Partners LLC’s holdings in Crown Castle were worth $260,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in shares of Crown Castle by 29.4% in the fourth 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 buying an additional 282,821 shares in the last quarter. Van ECK Associates Corp increased its stake in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the period. Oak Thistle LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth about $1,231,000. Fisher Asset Management LLC boosted its stake in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after purchasing an additional 203,442 shares during the period. Finally, Citizens Business Bank purchased a new position in shares of Crown Castle in the third quarter valued at approximately $620,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.4 %

NYSE:CCI opened at $91.03 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock’s 50 day moving average price is $96.66 and its 200 day moving average price is $105.61. The company has a market capitalization of $39.56 billion, a PE ratio of 32.28 and a beta of 0.87.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

CCI has been the topic of a number of recent research reports. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. TD Cowen reduced their price target on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. The Goldman Sachs Group boosted their price objective on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Royal Bank of Canada raised their target price 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. Finally, Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $113.00.

Crown Castle 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.