Crown Castle Inc. (NYSE:CCI) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,860 shares of the real estate investment trust’s stock after selling 306 shares during the period. Raleigh Capital Management Inc.’s holdings in Crown Castle were worth $169,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in CCI. EverSource Wealth Advisors LLC raised its holdings in Crown Castle by 31.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 301 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Crown Castle by 17.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 60,432 shares of the real estate investment trust’s stock valued at $5,904,000 after purchasing an additional 9,047 shares in the last quarter. Evergreen Capital Management LLC lifted its position in shares of Crown Castle by 23.7% during the second quarter. Evergreen Capital Management LLC now owns 6,376 shares of the real estate investment trust’s stock worth $623,000 after purchasing an additional 1,220 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in Crown Castle by 60.7% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 83,218 shares of the real estate investment trust’s stock worth $8,130,000 after purchasing an additional 31,439 shares in the last quarter. Finally, Fred Alger Management LLC increased its holdings in Crown Castle by 10.0% in the second quarter. Fred Alger Management LLC now owns 40,218 shares of the real estate investment trust’s stock valued at $3,929,000 after buying an additional 3,655 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $88.62 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50 day moving average is $95.88 and its two-hundred day moving average is $105.47. The firm has a market capitalization of $38.51 billion, a P/E ratio of 31.43 and a beta of 0.87. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.06%. 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 research analyst reports. TD Cowen reduced their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. UBS Group lifted their price objective on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft reduced their price target 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. Finally, Moffett Nathanson lowered their price objective on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.80.

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.