Naviter Wealth LLC Has $2.12 Million Stake in Crown Castle Inc. (NYSE:CCI)

Naviter Wealth LLC decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 32.2% in the 4th quarter, Holdings Channel reports. The fund owned 23,330 shares of the real estate investment trust’s stock after selling 11,070 shares during the period. Naviter Wealth LLC’s holdings in Crown Castle were worth $2,117,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of CCI. Wellington Management Group LLP raised its stake in Crown Castle by 23.8% during the third 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 acquiring an additional 3,371,186 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Crown Castle by 433.8% during 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 worth $470,838,000 after acquiring an additional 3,225,460 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Crown Castle during the fourth quarter worth about $95,167,000. State Street Corp raised its stake in 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 in the last quarter. Finally, Proficio Capital Partners LLC raised its stake in Crown Castle by 9,471.0% during the fourth quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after acquiring an additional 739,779 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of several recent research reports. JMP Securities initiated coverage on Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective for the company. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Finally, Citigroup lowered their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

Crown Castle stock opened at $97.78 on Friday. The stock has a market capitalization of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock’s 50 day moving average price is $90.22 and its two-hundred day moving average price is $101.94. 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 firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 6.40%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is 221.99%.

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.