Duff & Phelps Investment Management Co. Trims Holdings in Crown Castle Inc. (NYSE:CCI)

Duff & Phelps Investment Management Co. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 4.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 855,116 shares of the real estate investment trust’s stock after selling 39,722 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Crown Castle were worth $77,610,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Twin Tree Management LP bought a new position in shares of Crown Castle in the fourth quarter worth $25,000. FNY Investment Advisers LLC grew its holdings in shares of 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 worth $36,000 after purchasing an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in Crown Castle in the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new stake in Crown Castle during the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle in the 4th quarter worth approximately $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

CCI has been the subject of a number of research analyst reports. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research report on Friday, March 14th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, JMP Securities initiated coverage on shares of Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Trading Up 1.5 %

NYSE:CCI opened at $102.61 on Friday. The company has a 50-day moving average price of $93.95 and a 200-day moving average price of $100.88. The stock has a market cap of $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89. 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.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.10%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.