Cornerstone Capital Inc. Sells 16,498 Shares of Crown Castle Inc. (NYSE:CCI)

Cornerstone Capital Inc. cut its stake in Crown Castle Inc. (NYSE:CCI) by 21.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 60,846 shares of the real estate investment trust’s stock after selling 16,498 shares during the period. Cornerstone Capital Inc.’s holdings in Crown Castle were worth $5,522,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Accurate Wealth Management LLC grew its stake in Crown Castle by 5.4% in the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock valued at $205,000 after acquiring an additional 124 shares during the period. Exchange Traded Concepts LLC boosted its position in shares of Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after acquiring an additional 126 shares during the period. IFP Advisors Inc lifted its position in shares of Crown Castle by 5.9% during the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after acquiring an additional 133 shares during the period. Howard Capital Management Inc. increased its holdings in Crown Castle by 1.2% in the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 135 shares during the period. Finally, Cidel Asset Management Inc. raised its position in shares of Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 137 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Up 2.2 %

Shares of CCI opened at $103.51 on Friday. The firm has a market capitalization of $45.07 billion, a P/E ratio of 36.71 and a beta of 0.93. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a fifty day moving average price of $97.73 and a 200-day moving average price of $98.80.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.05%. Crown Castle’s dividend payout ratio is currently -69.71%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CCI. JPMorgan Chase & Co. decreased their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Citigroup reaffirmed a “buy” rating on shares of Crown Castle in a research report on Tuesday, March 25th. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, BMO Capital Markets restated a “market perform” rating on shares of Crown Castle in a research report on Tuesday, March 25th. Twelve equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $109.88.

Crown Castle Company 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.