Garland Capital Management Inc. Sells 740 Shares of Crown Castle Inc. (NYSE:CCI)

Garland Capital Management Inc. decreased its position in shares of Crown Castle Inc. (NYSE:CCIFree Report) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,420 shares of the real estate investment trust’s stock after selling 740 shares during the period. Crown Castle makes up 2.1% of Garland Capital Management Inc.’s holdings, making the stock its 29th biggest position. Garland Capital Management Inc.’s holdings in Crown Castle were worth $2,928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Riverview Trust Co grew its stake in shares of Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 140 shares in the last quarter. ST Germain D J Co. Inc. bought a new stake in Crown Castle in the 2nd quarter valued at about $27,000. Almanack Investment Partners LLC. bought a new stake in Crown Castle in the 3rd quarter valued at about $28,000. PCA Investment Advisory Services Inc. acquired a new position in shares of Crown Castle during the 2nd quarter worth approximately $29,000. Finally, Operose Advisors LLC bought a new position in shares of Crown Castle during the third quarter worth approximately $30,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of NYSE CCI traded down $0.36 during trading on Friday, reaching $96.72. 2,690,121 shares of the stock traded hands, compared to its average volume of 2,742,794. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $134.50. The stock has a market capitalization of $42.03 billion, a P/E ratio of 28.03, a price-to-earnings-growth ratio of 2.60 and a beta of 0.73. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The company has a 50-day moving average of $106.39 and a 200-day moving average of $104.96.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.47%. Crown Castle’s dividend payout ratio (DPR) is presently 180.92%.

Analyst Upgrades and Downgrades

CCI has been the subject of several recent research reports. HSBC assumed coverage on Crown Castle in a research note on Thursday, December 14th. They issued a “hold” rating and a $110.00 price target for the company. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and upped their target price for the company from $107.00 to $110.00 in a research report on Friday, January 19th. Finally, Royal Bank of Canada increased their price objective on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $118.93.

Get Our Latest Stock Report on CCI

About Crown Castle

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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