Crown Castle Inc. (NYSE:CCI) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. reduced its position in Crown Castle Inc. (NYSE:CCI) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,982 shares of the real estate investment trust’s stock after selling 623 shares during the quarter. Linscomb Wealth Inc.’s holdings in Crown Castle were worth $4,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Crown Castle by 29.4% in the 4th 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 acquiring an additional 282,821 shares during 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 valued at $17,476,000 after purchasing an additional 31,319 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Crown Castle during the fourth quarter worth $1,231,000. Avanza Fonder AB bought a new position in shares of Crown Castle in the 4th quarter worth about $3,083,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Crown Castle by 4.2% in the 3rd 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 buying an additional 203,442 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup reduced their price target on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a report on Thursday, February 13th. Finally, Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Stock Performance

CCI opened at $93.58 on Friday. The business has a 50 day moving average price of $89.69 and a two-hundred day moving average price of $102.55. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The company has a market capitalization of $40.67 billion, a price-to-earnings ratio of 33.18 and a beta of 0.88. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

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.