Plato Investment Management Ltd Sells 1,441 Shares of Crown Castle Inc. (NYSE:CCI)

Plato Investment Management Ltd trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 8.6% during the 4th quarter, Holdings Channel reports. The firm owned 15,243 shares of the real estate investment trust’s stock after selling 1,441 shares during the quarter. Plato Investment Management Ltd’s holdings in Crown Castle were worth $1,388,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of CCI. State Street Corp grew its position in Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after acquiring an additional 747,390 shares during the last quarter. Wellington Management Group LLP grew its position in Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC grew its position in Crown Castle by 1.3% during the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares during the last quarter. Fisher Asset Management LLC grew its position in Crown Castle by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 5,218,431 shares of the real estate investment trust’s stock valued at $473,625,000 after acquiring an additional 130,414 shares during the last quarter. Finally, Barclays PLC grew its position in Crown Castle by 7.2% during the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after acquiring an additional 348,296 shares during the last quarter. 90.77% of the stock is currently owned by institutional investors.

Crown Castle Stock Performance

Shares of CCI stock opened at $95.79 on Tuesday. The stock has a fifty day moving average of $89.86 and a 200 day moving average of $102.23. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The firm has a market capitalization of $41.63 billion, a price-to-earnings ratio of 33.97 and a beta of 0.88. 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 disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.54%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CCI. Scotiabank reduced their price target on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Moffett Nathanson reduced their price target on shares of Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Crown Castle has a consensus rating of “Hold” and a consensus price target of $108.75.

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.