Crown Castle Inc. (NYSE:CCI) Shares Sold by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC decreased its position in Crown Castle Inc. (NYSE:CCI) by 10.3% during the 4th quarter, Holdings Channel reports. The firm owned 8,875 shares of the real estate investment trust’s stock after selling 1,018 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Crown Castle were worth $805,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Napa Wealth Management grew its stake in Crown Castle by 4.6% in the 3rd quarter. Napa Wealth Management now owns 2,765 shares of the real estate investment trust’s stock valued at $328,000 after acquiring an additional 122 shares during the last quarter. Accurate Wealth Management LLC grew its position in shares of 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 purchasing an additional 124 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares in the last quarter. IFP Advisors Inc raised 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 worth $216,000 after purchasing an additional 133 shares during the last quarter. Finally, Howard Capital Management Inc. lifted its stake 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 in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. 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 for the company. Wells Fargo & Company dropped their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Scotiabank reduced their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research note on Friday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Trading Up 8.5 %

Shares of CCI stock opened at $103.20 on Friday. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm’s 50 day moving average price is $91.00 and its two-hundred day moving average price is $101.40. The stock has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.07%. Crown Castle’s dividend payout ratio is currently 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.