MV Capital Management Inc. Sells 221 Shares of Crown Castle Inc. (NYSE:CCI)

MV Capital Management Inc. cut its position in shares of Crown Castle Inc. (NYSE:CCI) by 38.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 357 shares of the real estate investment trust’s stock after selling 221 shares during the quarter. MV Capital Management Inc.’s holdings in Crown Castle were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in CCI. Intech Investment Management LLC purchased a new position in shares of Crown Castle in the 3rd quarter worth about $518,000. D.A. Davidson & CO. boosted its stake in Crown Castle by 4.9% in the third quarter. D.A. Davidson & CO. now owns 20,478 shares of the real estate investment trust’s stock valued at $2,429,000 after acquiring an additional 960 shares during the last quarter. Townsquare Capital LLC boosted its stake in Crown Castle by 25.9% in the third quarter. Townsquare Capital LLC now owns 5,853 shares of the real estate investment trust’s stock valued at $694,000 after acquiring an additional 1,203 shares during the last quarter. Fiduciary Trust Co increased its stake in shares of Crown Castle by 15.7% during the 3rd quarter. Fiduciary Trust Co now owns 8,180 shares of the real estate investment trust’s stock worth $970,000 after purchasing an additional 1,113 shares during the last quarter. Finally, Public Sector Pension Investment Board raised its stake in shares of Crown Castle by 25.5% in the third quarter. Public Sector Pension Investment Board now owns 75,869 shares of the real estate investment trust’s stock valued at $9,000,000 after buying an additional 15,437 shares during the period. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

CCI has been the topic of several recent research reports. Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a report on Tuesday. Citigroup lifted their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Finally, KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a report on Friday, March 14th. Eleven investment analysts have rated the stock with a hold rating, six have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Performance

NYSE:CCI opened at $103.61 on Friday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The business has a 50 day moving average of $94.20 and a 200 day moving average of $100.65. The company has a market capitalization of $45.11 billion, a price-to-earnings ratio of 36.74 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.04%. 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.