Parsons Capital Management Inc. RI Sells 229 Shares of Crown Castle Inc. (NYSE:CCI)

Parsons Capital Management Inc. RI trimmed its holdings in Crown Castle Inc. (NYSE:CCI) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,599 shares of the real estate investment trust’s stock after selling 229 shares during the period. Parsons Capital Management Inc. RI’s holdings in Crown Castle were worth $236,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter valued at $25,000. Rosenberg Matthew Hamilton boosted its stake in Crown Castle by 107.9% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC grew its holdings in Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Crown Castle during the third quarter valued at about $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Crown Castle in the third quarter worth about $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 3.0 %

Shares of NYSE CCI opened at $89.63 on Wednesday. The stock has a market capitalization of $38.95 billion, a P/E ratio of 31.78 and a beta of 0.87. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The firm’s 50 day simple moving average is $95.04 and its two-hundred day simple moving average is $105.34. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.98%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is currently 221.99%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday. Finally, JMP Securities began coverage on Crown Castle in a report on Monday. They issued an “outperform” rating and a $115.00 price target on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $110.13.

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.