Albion Financial Group UT Decreases Stake in Crown Castle Inc. (NYSE:CCI)

Albion Financial Group UT cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 24.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 26,990 shares of the real estate investment trust’s stock after selling 8,523 shares during the period. Albion Financial Group UT’s holdings in Crown Castle were worth $2,450,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Summit Trail Advisors LLC lifted its position in Crown Castle by 16.7% during the second quarter. Summit Trail Advisors LLC now owns 4,916 shares of the real estate investment trust’s stock worth $480,000 after buying an additional 704 shares in the last quarter. Profund Advisors LLC boosted its position in shares of Crown Castle by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 6,729 shares of the real estate investment trust’s stock valued at $657,000 after acquiring an additional 188 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in shares of Crown Castle by 55,756.3% in the second quarter. Frank Rimerman Advisors LLC now owns 8,937 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 8,921 shares during the period. Gabelli Funds LLC increased its position in Crown Castle by 1.1% during the second quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock worth $4,573,000 after purchasing an additional 500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its stake in Crown Castle by 31.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $90.62 on Wednesday. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a fifty day simple moving average of $96.17 and a two-hundred day simple moving average of $105.59. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a market cap of $39.38 billion, a price-to-earnings ratio of 32.14 and a beta of 0.87.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders 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 annualized dividend and a yield of 6.91%. Crown Castle’s dividend payout ratio (DPR) is 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several 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 research note on Thursday, September 26th. Wells Fargo & Company cut Crown Castle from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $105.00 to $100.00 in a research note on Tuesday, December 10th. Royal Bank of Canada upped their price target 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. UBS Group raised their price objective on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, TD Cowen decreased their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and an average price target of $113.00.

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.