Stock Yards Bank & Trust Co. Cuts Position in Crown Castle Inc. (NYSE:CCI)

Stock Yards Bank & Trust Co. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,792 shares of the real estate investment trust’s stock after selling 3,443 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Crown Castle were worth $1,070,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CCI. Nordea Investment Management AB lifted its stake in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after purchasing an additional 282,821 shares during the last quarter. Van ECK Associates Corp boosted its position in Crown Castle by 24.7% during the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock worth $17,476,000 after purchasing an additional 31,319 shares during the period. Oak Thistle LLC bought a new stake in shares of Crown Castle in the fourth quarter valued at approximately $1,231,000. Avanza Fonder AB purchased a new stake in shares of Crown Castle during the 4th quarter valued at approximately $3,083,000. Finally, Fisher Asset Management LLC boosted its holdings in Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after buying an additional 203,442 shares during the period. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Up 0.1 %

CCI opened at $89.39 on Tuesday. The company has a market cap of $38.85 billion, a P/E ratio of 31.70 and a beta of 0.88. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The business’s 50-day moving average price is $93.78 and its 200-day moving average price is $104.91. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 7.00%. Crown Castle’s payout ratio is currently 221.99%.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCI shares. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. JMP Securities initiated coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target on the stock. Finally, Scotiabank decreased their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle currently has a consensus rating of “Hold” and a consensus target price 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.