Crown Castle Inc. (NYSE:CCI) Stake Reduced by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 54.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 686,010 shares of the real estate investment trust’s stock after selling 834,493 shares during the quarter. Bank of Montreal Can’s holdings in Crown Castle were worth $62,262,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CCI. Twin Tree Management LP acquired a new stake in shares of Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC boosted its holdings 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 acquiring an additional 300 shares during the period. Roxbury Financial LLC bought a new stake in Crown Castle during the 4th quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new stake in shares of Crown Castle in the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle in the 4th quarter valued at $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

NYSE:CCI opened at $95.56 on Thursday. The company has a market cap of $41.61 billion, a P/E ratio of 33.89 and a beta of 0.93. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm’s fifty day moving average price is $96.29 and its two-hundred day moving average price is $99.51.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given 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 6.55%. Crown Castle’s payout ratio is -69.71%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. Jefferies Financial Group lowered 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 note on Thursday, January 2nd. 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 research report on Friday, March 14th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $110.00.

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.