Thrive Wealth Management LLC Sells 1,864 Shares of Crown Castle Inc. (NYSE:CCI)

Thrive Wealth Management LLC trimmed its position in shares of Crown Castle Inc. (NYSE:CCI) by 43.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,388 shares of the real estate investment trust’s stock after selling 1,864 shares during the period. Thrive Wealth Management LLC’s holdings in Crown Castle were worth $217,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC bought a new position in shares of Crown Castle during the 3rd quarter worth approximately $25,000. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC increased 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 purchasing an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle in the third quarter valued at about $47,000. Finally, Friedenthal Financial acquired a new stake in shares of Crown Castle during the 3rd quarter worth about $50,000. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCI has been the topic of several research analyst reports. The Goldman Sachs Group increased their price target on shares of Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $105.00 to $100.00 in a report on Tuesday, December 10th. TD Cowen decreased their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. JPMorgan Chase & Co. lifted their target price on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Finally, Citigroup set a $128.00 target price on shares of Crown Castle in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $113.00.

Crown Castle Stock Performance

Shares of NYSE:CCI opened at $91.03 on Tuesday. The company’s 50 day simple moving average is $96.66 and its 200 day simple moving average is $105.67. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a market capitalization of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were issued a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.88%. Crown Castle’s dividend payout ratio (DPR) is currently 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.