Skandinaviska Enskilda Banken AB publ Sells 326 Shares of Crown Castle Inc. (NYSE:CCI)

Skandinaviska Enskilda Banken AB publ cut its stake in Crown Castle Inc. (NYSE:CCI) by 0.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,180 shares of the real estate investment trust’s stock after selling 326 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Crown Castle were worth $8,007,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its holdings in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC bought a new position in shares of Crown Castle during the 4th quarter worth about $37,000. Investors Research Corp lifted its holdings in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 154 shares during the period. Marshall Investment Management LLC bought a new position in shares of Crown Castle during the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust bought a new position in shares of Crown Castle during the 4th quarter worth about $53,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Stock Up 8.5 %

Crown Castle stock opened at $103.20 on Friday. The company’s 50 day simple moving average is $91.00 and its 200 day simple moving average is $101.40. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The firm has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s payout ratio is currently 221.99%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CCI shares. Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price target for the company from $128.00 to $122.00 in a report on Friday. JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Moffett Nathanson cut their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target for the company in a report on Friday. Finally, Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $109.12.

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.