Financial Partners Group LLC Sells 189 Shares of Crown Castle Inc. (NYSE:CCI)

Financial Partners Group LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,205 shares of the real estate investment trust’s stock after selling 189 shares during the quarter. Crown Castle accounts for about 2.4% of Financial Partners Group LLC’s holdings, making the stock its 13th biggest position. Financial Partners Group LLC’s holdings in Crown Castle were worth $5,736,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCI. State Street Corp increased its holdings in Crown Castle by 3.7% during the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Wellington Management Group LLP grew its holdings in 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 worth $2,079,417,000 after buying an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC raised its position in Crown Castle by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after buying an additional 151,990 shares during the last quarter. Legal & General Group Plc lifted its stake in Crown Castle by 1.1% during the 2nd quarter. Legal & General Group Plc now owns 6,177,250 shares of the real estate investment trust’s stock valued at $603,518,000 after acquiring an additional 67,072 shares in the last quarter. Finally, Barclays PLC boosted its holdings in Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after acquiring an additional 348,296 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. TD Cowen lowered their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a report on Thursday, October 17th. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Scotiabank decreased their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, Moffett Nathanson decreased their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average price target of $109.80.

Crown Castle Stock Performance

NYSE CCI opened at $88.62 on Friday. The company’s 50 day moving average is $95.88 and its 200-day moving average is $105.47. The firm has a market cap of $38.51 billion, a P/E ratio of 31.43 and a beta of 0.87. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

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.