Taylor Frigon Capital Management LLC Lowers Position in Crown Castle Inc. (NYSE:CCI)

Taylor Frigon Capital Management LLC cut its stake in Crown Castle Inc. (NYSE:CCI) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,453 shares of the real estate investment trust’s stock after selling 269 shares during the quarter. Taylor Frigon Capital Management LLC’s holdings in Crown Castle were worth $1,312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Catalyst Capital Advisors LLC purchased a new stake in shares of Crown Castle during the third quarter valued at approximately $25,000. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Crown Castle during the third quarter valued at approximately $47,000. FNY Investment Advisers LLC increased its position in shares of Crown Castle by 300.0% during 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 last quarter. Finally, Roxbury Financial LLC purchased a new stake in shares of Crown Castle during the fourth quarter valued at approximately $37,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CCI. Wells Fargo & Company decreased their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Citigroup decreased their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Crown Castle currently has a consensus rating of “Hold” and a consensus target price of $108.75.

Crown Castle Price Performance

Crown Castle stock opened at $91.58 on Thursday. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The business has a fifty day moving average price of $89.63 and a 200-day moving average price of $102.61. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm has a market capitalization of $39.80 billion, a P/E ratio of 32.48 and a beta of 0.88.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.84%. Crown Castle’s dividend payout ratio is 221.99%.

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.