Gulf International Bank UK Ltd Trims Holdings in Crown Castle Inc. (NYSE:CCI)

Gulf International Bank UK Ltd cut its stake in Crown Castle Inc. (NYSE:CCI) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,938 shares of the real estate investment trust’s stock after selling 355 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Crown Castle were worth $3,080,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in CCI. AMF Tjanstepension AB grew its position in shares of Crown Castle by 11.7% in the third quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock valued at $19,835,000 after purchasing an additional 17,524 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Crown Castle by 3.7% during the third quarter. Assenagon Asset Management S.A. now owns 18,667 shares of the real estate investment trust’s stock worth $2,214,000 after buying an additional 671 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in Crown Castle during the third quarter worth about $205,000. Integrated Advisors Network LLC grew its position in Crown Castle by 24.5% during the third quarter. Integrated Advisors Network LLC now owns 5,027 shares of the real estate investment trust’s stock worth $596,000 after buying an additional 988 shares in the last quarter. Finally, Financial Advocates Investment Management grew its position in Crown Castle by 3.7% during the third quarter. Financial Advocates Investment Management now owns 4,967 shares of the real estate investment trust’s stock worth $589,000 after buying an additional 176 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Up 0.7 %

Shares of CCI stock opened at $94.13 on Friday. The stock has a market capitalization of $40.91 billion, a PE ratio of 33.38 and a beta of 0.88. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The business has a 50-day moving average of $89.75 and a 200 day moving average of $102.43. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.65%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Citigroup reduced their target price on Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $108.75.

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.