Crown Castle Inc. (NYSE:CCI) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp cut its position in Crown Castle Inc. (NYSE:CCI) by 23.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,640 shares of the real estate investment trust’s stock after selling 1,403 shares during the quarter. King Luther Capital Management Corp’s holdings in Crown Castle were worth $421,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assetmark Inc. lifted its position in shares of Crown Castle by 24.1% during the third quarter. Assetmark Inc. now owns 19,113 shares of the real estate investment trust’s stock worth $2,267,000 after purchasing an additional 3,717 shares in the last quarter. Versor Investments LP acquired a new stake in Crown Castle during the 3rd quarter worth approximately $455,000. Apollon Wealth Management LLC grew its stake in shares of Crown Castle by 2.1% in the third quarter. Apollon Wealth Management LLC now owns 11,696 shares of the real estate investment trust’s stock worth $1,388,000 after acquiring an additional 238 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Crown Castle during the third quarter worth $522,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Crown Castle in the third quarter valued at $245,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on CCI shares. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their price objective 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. Scotiabank reduced their target price on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Crown Castle has a consensus rating of “Hold” and a consensus price target of $108.75.

Crown Castle Stock Down 0.4 %

CCI opened at $94.92 on Friday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a market capitalization of $41.25 billion, a P/E ratio of 33.66 and a beta of 0.89. The business’s 50-day simple moving average is $90.74 and its 200-day simple moving average is $101.55.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.59%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Crown Castle 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.