Everence Capital Management Inc. Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Everence Capital Management Inc. decreased its position in shares of Crown Castle Inc. (NYSE:CCI) by 24.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,150 shares of the real estate investment trust’s stock after selling 4,019 shares during the period. Everence Capital Management Inc.’s holdings in Crown Castle were worth $1,400,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in CCI. Almanack Investment Partners LLC. bought a new position in shares of Crown Castle during the third quarter valued at about $28,000. PCA Investment Advisory Services Inc. bought a new position in shares of Crown Castle during the second quarter valued at about $29,000. Riverview Trust Co grew its stake in shares of Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Crown Castle during the fourth quarter valued at about $37,000. Finally, Valley National Advisers Inc. grew its stake in shares of Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on CCI. Royal Bank of Canada raised their target price on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $118.93.

Crown Castle Price Performance

CCI stock opened at $93.96 on Wednesday. The firm has a 50 day moving average price of $105.69 and a 200-day moving average price of $105.23. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $134.09. The firm has a market capitalization of $40.83 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.66%. Crown Castle’s payout ratio is 180.92%.

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.