Vestcor Inc Has $2.96 Million Stake in Crown Castle Inc. (NYSE:CCI)

Vestcor Inc lowered its position in Crown Castle Inc. (NYSE:CCI) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,624 shares of the real estate investment trust’s stock after selling 1,828 shares during the period. Vestcor Inc’s holdings in Crown Castle were worth $2,961,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC increased its holdings in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter worth approximately $37,000. Investors Research Corp increased its holdings in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares during the last quarter. Marshall Investment Management LLC acquired a new position in Crown Castle in the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Deutsche Bank Aktiengesellschaft decreased 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. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and decreased their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Scotiabank decreased their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Stock Down 0.4 %

CCI opened at $94.92 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The stock has a market capitalization of $41.25 billion, a price-to-earnings ratio of 33.66 and a beta of 0.89. The business has a 50 day moving average of $90.74 and a 200-day moving average of $101.55.

Crown Castle Dividend Announcement

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