Crown Castle Inc. (NYSE:CCI) Holdings Decreased by Biltmore Family Office LLC

Biltmore Family Office LLC lessened its holdings in Crown Castle Inc. (NYSE:CCI) by 7.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,814 shares of the real estate investment trust’s stock after selling 318 shares during the quarter. Biltmore Family Office LLC’s holdings in Crown Castle were worth $346,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CCI. Norges Bank acquired a new position in shares of Crown Castle in the 4th quarter valued at about $561,714,000. Vanguard Group Inc. boosted its stake in Crown Castle by 10.5% in the fourth quarter. Vanguard Group Inc. now owns 62,499,455 shares of the real estate investment trust’s stock valued at $5,672,451,000 after acquiring an additional 5,934,615 shares during the period. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after purchasing an additional 3,371,186 shares during the last quarter. National Bank of Canada FI lifted its holdings in shares of Crown Castle by 37.3% in the 4th quarter. National Bank of Canada FI now owns 5,793,842 shares of the real estate investment trust’s stock worth $525,849,000 after purchasing an additional 1,573,043 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Crown Castle during the 4th quarter valued at approximately $95,167,000. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Argus upgraded shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and decreased their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Barclays boosted their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an “overweight” rating in a research note on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus price target of $110.00.

Crown Castle Stock Down 0.8 %

NYSE:CCI opened at $103.82 on Thursday. The business’s fifty day moving average price is $95.06 and its 200 day moving average price is $100.33. The firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 36.82 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.03%. Crown Castle’s dividend payout ratio 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.