Edgemoor Investment Advisors Inc. Sells 1,800 Shares of Crown Castle Inc. (NYSE:CCI)

Edgemoor Investment Advisors Inc. lessened its stake in shares of Crown Castle Inc. (NYSE:CCI) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 89,658 shares of the real estate investment trust’s stock after selling 1,800 shares during the period. Edgemoor Investment Advisors Inc.’s holdings in Crown Castle were worth $8,137,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Twin Tree Management LP bought a new position in Crown Castle during the 4th quarter valued at approximately $25,000. FNY Investment Advisers LLC increased its holdings in shares of Crown Castle by 300.0% in the 4th 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 bought a new stake in shares of Crown Castle in the 4th quarter worth $37,000. Investors Research Corp increased its holdings in shares of Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares in the last quarter. Finally, Marshall Investment Management LLC bought a new stake in shares of Crown Castle in the 4th quarter worth $50,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of a number of research analyst reports. JMP Securities initiated coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Raymond James raised Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their target price for the stock from $128.00 to $122.00 in a report on Friday. Scotiabank reduced their target price on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a report on Friday. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Citigroup lifted their price objective on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average price target of $109.12.

Crown Castle Price Performance

NYSE CCI opened at $103.20 on Monday. The company has a market capitalization of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The business’s fifty day moving average is $91.00 and its 200 day moving average is $101.32. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. Crown Castle’s payout ratio is 221.99%.

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.