Whittier Trust Co. of Nevada Inc. Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Whittier Trust Co. of Nevada Inc. trimmed its stake in Crown Castle Inc. (NYSE:CCI) by 51.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 649 shares of the real estate investment trust’s stock after selling 692 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Crown Castle were worth $59,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Twin Tree Management LP purchased a new stake in Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC boosted its position 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 valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC purchased a new stake in Crown Castle in the 4th quarter valued at about $37,000. Marshall Investment Management LLC purchased a new stake in Crown Castle in the 4th quarter valued at about $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in Crown Castle in the 4th quarter valued at about $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Trading Up 1.9 %

NYSE CCI opened at $106.61 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a fifty day simple moving average of $92.77 and a two-hundred day simple moving average of $101.04. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The stock has a market cap of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm 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. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

Analyst Ratings Changes

CCI has been the subject of several research reports. Jefferies Financial Group cut shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a research note on Monday, March 17th. UBS Group upgraded shares of Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price objective on the stock in a research note on Friday, March 14th. Citigroup increased their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, March 14th. Finally, Bank of America started coverage on shares of Crown Castle in a research note on Thursday. They set a “neutral” rating and a $110.00 price objective on the stock. Eleven 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.