Cullen Capital Management LLC Sells 19,586 Shares of Crown Castle Inc. (NYSE:CCI)

Cullen Capital Management LLC lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 1.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,095,142 shares of the real estate investment trust’s stock after selling 19,586 shares during the period. Cullen Capital Management LLC’s holdings in Crown Castle were worth $99,395,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Resona Asset Management Co. Ltd. acquired a new position in shares of Crown Castle during the fourth quarter worth $6,437,000. Provident Investment Management Inc. lifted its holdings in Crown Castle by 3.5% during the 4th quarter. Provident Investment Management Inc. now owns 6,515 shares of the real estate investment trust’s stock worth $591,000 after buying an additional 220 shares during the period. Arete Wealth Advisors LLC grew its position in shares of Crown Castle by 7.9% in the 4th quarter. Arete Wealth Advisors LLC now owns 5,264 shares of the real estate investment trust’s stock valued at $477,000 after buying an additional 385 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Crown Castle by 12.8% in the fourth quarter. Motley Fool Asset Management LLC now owns 19,721 shares of the real estate investment trust’s stock valued at $1,790,000 after buying an additional 2,231 shares during the period. Finally, Meeder Advisory Services Inc. raised its position in shares of Crown Castle by 23.5% during the fourth quarter. Meeder Advisory Services Inc. now owns 7,726 shares of the real estate investment trust’s stock worth $701,000 after acquiring an additional 1,472 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CCI. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday, March 14th. KeyCorp upgraded shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a report on Friday, March 14th. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Down 5.8 %

Crown Castle stock opened at $100.89 on Friday. The firm has a market capitalization of $43.93 billion, a price-to-earnings ratio of 35.78 and a beta of 0.89. The firm’s fifty day moving average price is $95.67 and its two-hundred day moving average price is $100.24. 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.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.20%. Crown Castle’s dividend payout ratio (DPR) is currently -69.71%.

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.