Schechter Investment Advisors LLC Sells 1,421 Shares of Crown Castle Inc. (NYSE:CCI)

Schechter Investment Advisors LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 8,484 shares of the real estate investment trust’s stock after selling 1,421 shares during the period. Schechter Investment Advisors LLC’s holdings in Crown Castle were worth $977,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Riverview Trust Co raised its position in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares during the period. Union Savings Bank acquired a new stake in shares of Crown Castle during the 2nd quarter worth approximately $27,000. ST Germain D J Co. Inc. acquired a new stake in shares of Crown Castle during the 2nd quarter worth approximately $27,000. West Tower Group LLC acquired a new stake in Crown Castle in the 2nd quarter valued at approximately $28,000. Finally, Almanack Investment Partners LLC. acquired a new stake in Crown Castle in the 3rd quarter valued at approximately $28,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Stock Performance

Shares of CCI opened at $105.59 on Thursday. The firm’s 50 day moving average is $107.92 and its 200-day moving average is $104.61. The stock has a market capitalization of $45.88 billion, a P/E ratio of 30.52, a P/E/G ratio of 2.71 and a beta of 0.74. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $136.29.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.93%. The ex-dividend date of this dividend is Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 180.92%.

Wall Street Analyst Weigh In

Several research firms have commented on CCI. Royal Bank of Canada boosted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $90.00 to $115.00 in a report on Tuesday, December 5th. HSBC initiated coverage on shares of Crown Castle in a research note on Thursday, December 14th. They set a “hold” rating and a $110.00 price target on the stock. Finally, BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $121.33.

About Crown Castle

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.