Advocate Group LLC Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

Advocate Group LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 2.2% in the 4th quarter, HoldingsChannel reports. The firm owned 26,664 shares of the real estate investment trust’s stock after selling 599 shares during the quarter. Advocate Group LLC’s holdings in Crown Castle were worth $2,420,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new position in shares of Crown Castle in the third quarter worth about $25,000. Rosenberg Matthew Hamilton raised its stake in shares of Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new position in shares of Crown Castle in the third quarter worth about $47,000. FNY Investment Advisers LLC raised its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Finally, Investors Research Corp raised its stake in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

CCI stock opened at $88.49 on Friday. 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 market capitalization of $38.46 billion, a PE ratio of 31.38 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 business’s fifty day moving average price is $95.29 and its 200 day moving average price is $105.30.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date was Friday, December 13th. This represents a $6.26 annualized dividend and a dividend yield of 7.07%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CCI shares. Royal Bank of Canada raised their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research note on Monday, October 28th. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday. Wells Fargo & Company dropped their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday. Citigroup set a $128.00 price objective on Crown Castle in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $109.80.

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.