Crossmark Global Holdings Inc. Sells 4,476 Shares of Crown Castle Inc. (NYSE:CCI)

Crossmark Global Holdings Inc. lessened its position in Crown Castle Inc. (NYSE:CCI) by 6.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 70,202 shares of the real estate investment trust’s stock after selling 4,476 shares during the period. Crossmark Global Holdings Inc.’s holdings in Crown Castle were worth $6,372,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Nordea Investment Management AB grew its position in Crown Castle by 29.4% in the 4th 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 purchasing an additional 282,821 shares during the period. Van ECK Associates Corp lifted its stake in shares of Crown Castle by 24.7% in the third quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after buying an additional 31,319 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at about $1,231,000. Avanza Fonder AB bought a new stake in shares of Crown Castle during the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC raised its holdings in shares of Crown Castle by 4.2% in the 3rd quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock worth $603,592,000 after acquiring an additional 203,442 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Down 0.5 %

CCI stock opened at $90.62 on Wednesday. The stock has a 50-day simple moving average of $96.40 and a two-hundred day simple moving average of $105.63. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The firm has a market capitalization of $39.38 billion, a PE ratio of 32.14 and a beta of 0.87. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.91%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

Several analysts have recently commented on CCI shares. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. The Goldman Sachs Group raised their price objective on Crown Castle from $105.00 to $120.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. UBS Group upped their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. Wells Fargo & Company lowered shares of Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. Finally, TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $113.00.

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.