TD Private Client Wealth LLC Cuts Stock Position in Crown Castle Inc. (NYSE:CCI)

TD Private Client Wealth LLC lessened its position in Crown Castle Inc. (NYSE:CCI) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,417 shares of the real estate investment trust’s stock after selling 1,912 shares during the quarter. TD Private Client Wealth LLC’s holdings in Crown Castle were worth $1,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Magnetar Financial LLC purchased a new stake in Crown Castle during the 4th quarter worth about $5,858,000. Teacher Retirement System of Texas increased its holdings in Crown Castle by 781.1% during the 4th quarter. Teacher Retirement System of Texas now owns 25,632 shares of the real estate investment trust’s stock worth $2,326,000 after purchasing an additional 22,723 shares during the period. Generali Investments Management Co LLC purchased a new stake in Crown Castle during the 4th quarter worth about $1,891,000. Vinva Investment Management Ltd increased its holdings in Crown Castle by 7.1% during the 4th quarter. Vinva Investment Management Ltd now owns 21,339 shares of the real estate investment trust’s stock worth $1,916,000 after purchasing an additional 1,407 shares during the period. Finally, Intech Investment Management LLC increased its holdings in Crown Castle by 212.5% during the 4th quarter. Intech Investment Management LLC now owns 13,658 shares of the real estate investment trust’s stock worth $1,240,000 after purchasing an additional 9,288 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.9 %

Shares of NYSE CCI opened at $106.61 on Friday. The stock has a market cap of $46.42 billion, a PE ratio of 37.81 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 Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The business has a 50-day moving average price of $92.77 and a 200 day moving average price of $101.13.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 5.87%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently -69.71%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on CCI shares. Barclays upped their price target on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a report on Monday, March 17th. Citigroup upped their price objective on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday, March 14th. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. JMP Securities assumed coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective 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. Eleven equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Company 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.