Crown Castle Inc. (NYSE:CCI) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its position in shares of Crown Castle Inc. (NYSE:CCI) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 997,800 shares of the real estate investment trust’s stock after selling 61,500 shares during the period. Thrivent Financial for Lutherans owned about 0.23% of Crown Castle worth $90,561,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Versor Investments LP lifted its position in shares of Crown Castle by 120.0% during the fourth quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 4,608 shares in the last quarter. Nordea Investment Management AB raised its holdings in Crown Castle by 29.4% in the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock valued at $113,465,000 after acquiring an additional 282,821 shares in the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle in the fourth quarter valued at $1,231,000. Avanza Fonder AB acquired a new stake in Crown Castle in the fourth quarter valued at $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently issued reports on CCI. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and cut their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. JPMorgan Chase & Co. cut their price target on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank lowered their target price on shares of Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday, March 14th. Finally, Moffett Nathanson lowered their target price on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, Crown Castle currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Crown Castle Stock Up 1.9 %

Crown Castle stock opened at $104.90 on Wednesday. The company has a 50-day simple moving average of $91.64 and a 200-day simple moving average of $101.21. The firm has a market capitalization of $45.59 billion, a P/E ratio of 37.20 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92.

Crown Castle Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.97%. Crown Castle’s dividend payout ratio is currently -69.71%.

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.