Crown Castle Inc. (NYSE:CCI) Shares Sold by Leisure Capital Management

Leisure Capital Management trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 32.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,870 shares of the real estate investment trust’s stock after selling 2,839 shares during the period. Leisure Capital Management’s holdings in Crown Castle were worth $533,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CCI. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle during the third quarter worth about $25,000. Rosenberg Matthew Hamilton grew its stake in Crown Castle by 107.9% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after buying an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Crown Castle in the third quarter valued at approximately $47,000. FNY Investment Advisers LLC boosted its holdings in shares of 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 valued at $36,000 after acquiring an additional 300 shares during the period. Finally, Investors Research Corp grew its position in shares of Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Crown Castle Price Performance

CCI stock opened at $89.25 on Monday. The firm has a 50 day moving average of $93.78 and a 200-day moving average of $104.91. The company has a market cap of $38.79 billion, a price-to-earnings ratio of 31.65 and a beta of 0.88. 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 Inc. has a 12-month low of $84.20 and a 12-month high of $120.92.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a yield of 7.01%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analyst Weigh In

Several research firms recently commented on CCI. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. UBS Group raised their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Scotiabank lowered their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research note on Thursday, January 23rd. Finally, JMP Securities began coverage on Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.13.

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.