Sheets Smith Wealth Management Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

Sheets Smith Wealth Management decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 2.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 6,085 shares of the real estate investment trust’s stock after selling 165 shares during the period. Sheets Smith Wealth Management’s holdings in Crown Castle were worth $552,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the business. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton increased its stake in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Crown Castle during the third quarter valued at approximately $47,000. FNY Investment Advisers LLC raised its position in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after purchasing an additional 300 shares during the period. Finally, Investors Research Corp lifted its stake in shares of Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after purchasing an additional 154 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 2.5 %

CCI opened at $88.41 on Thursday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market capitalization of $38.42 billion, a P/E ratio of 31.35 and a beta of 0.87. The stock’s fifty day moving average is $96.17 and its two-hundred day moving average is $105.59. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.08%. Crown Castle’s payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCI. Citigroup set a $128.00 price target on Crown Castle in a report on Thursday, October 17th. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. UBS Group lifted their price target on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Finally, Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $113.00.

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.