Crown Castle Inc. (NYSE:CCI) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 7.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 120,070 shares of the real estate investment trust’s stock after selling 9,626 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Crown Castle were worth $10,898,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Wellington Management Group LLP grew its stake in Crown Castle by 23.8% during the 3rd quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Crown Castle by 433.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after acquiring an additional 3,225,460 shares during the period. State Street Corp grew its position in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Crown Castle by 25.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after acquiring an additional 642,010 shares during the period. Finally, Mizuho Markets Americas LLC increased its holdings in shares of Crown Castle by 70.0% in the 3rd quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock valued at $100,836,000 after acquiring an additional 350,000 shares during the period. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 2.1 %

NYSE:CCI opened at $93.58 on Friday. The stock has a market capitalization of $40.67 billion, a price-to-earnings ratio of 33.18 and a beta of 0.88. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a fifty day moving average price of $89.69 and a two-hundred day moving average price of $102.55. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.69%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Analyst Ratings Changes

CCI has been the subject of a number of recent research reports. JMP Securities initiated coverage on shares of Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.75.

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.