Farther Finance Advisors LLC Reduces Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Farther Finance Advisors LLC lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 13.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,529 shares of the real estate investment trust’s stock after selling 542 shares during the quarter. Farther Finance Advisors LLC’s holdings in Crown Castle were worth $320,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% in 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 last quarter. Roxbury Financial LLC acquired a new stake in shares of Crown Castle during the 4th quarter worth about $37,000. Investors Research Corp boosted its position 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 purchasing an additional 154 shares during the period. Marshall Investment Management LLC purchased a new stake in Crown Castle in the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle during the fourth quarter worth $53,000. 90.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CCI has been the topic of a number of research reports. Barclays increased their target price on shares of Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday. JPMorgan Chase & Co. reduced their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. UBS Group raised Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective for the company in a research report on Friday. Finally, Scotiabank decreased their target price on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a research note on Friday. Eleven analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.29.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $102.91 on Tuesday. The business has a fifty day simple moving average of $91.29 and a 200-day simple moving average of $101.26. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The company has a market cap of $44.73 billion, a P/E ratio of 36.49 and a beta of 0.89. 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. Stockholders of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.08%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.