Envestnet Portfolio Solutions Inc. Sells 6,122 Shares of Crown Castle Inc. (NYSE:CCI)

Envestnet Portfolio Solutions Inc. reduced its stake in Crown Castle Inc. (NYSE:CCI) by 9.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,453 shares of the real estate investment trust’s stock after selling 6,122 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Crown Castle were worth $5,305,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Wellington Management Group LLP lifted its position in Crown Castle by 23.8% in the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC lifted its position in Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares in the last quarter. Fisher Asset Management LLC lifted its position in Crown Castle by 2.6% in the 4th quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock valued at $473,625,000 after acquiring an additional 130,414 shares in the last quarter. Finally, Barclays PLC lifted its position in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after buying an additional 348,296 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $104.90 on Wednesday. The company’s 50 day moving average price is $91.64 and its two-hundred day moving average price is $101.21. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The firm has a market cap of $45.59 billion, a PE ratio of 37.20 and a beta of 0.89. 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 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 5.97%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CCI shares. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $85.00 to $105.00 in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research report on Monday. UBS Group raised shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target on the stock in a research report on Friday, March 14th. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.29.

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.