Everence Capital Management Inc. Decreases Holdings in Crown Castle Inc. (NYSE:CCI)

Everence Capital Management Inc. trimmed its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 24.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,150 shares of the real estate investment trust’s stock after selling 4,019 shares during the quarter. Everence Capital Management Inc.’s holdings in Crown Castle were worth $1,400,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Moors & Cabot Inc. raised its position in Crown Castle by 3.4% in the 1st quarter. Moors & Cabot Inc. now owns 2,734 shares of the real estate investment trust’s stock worth $505,000 after purchasing an additional 91 shares during the period. Sequoia Financial Advisors LLC increased its position in shares of Crown Castle by 33.4% during the first quarter. Sequoia Financial Advisors LLC now owns 3,954 shares of the real estate investment trust’s stock worth $730,000 after acquiring an additional 991 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Crown Castle by 4,497.6% during the first quarter. Loomis Sayles & Co. L P now owns 5,701 shares of the real estate investment trust’s stock worth $1,052,000 after acquiring an additional 5,577 shares during the period. Brown Brothers Harriman & Co. increased its position in shares of Crown Castle by 12.3% during the first quarter. Brown Brothers Harriman & Co. now owns 4,802 shares of the real estate investment trust’s stock worth $886,000 after acquiring an additional 525 shares during the period. Finally, Covestor Ltd increased its position in shares of Crown Castle by 205.9% during the first quarter. Covestor Ltd now owns 878 shares of the real estate investment trust’s stock worth $162,000 after acquiring an additional 591 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

NYSE CCI opened at $93.96 on Wednesday. The firm’s fifty day simple moving average is $105.69 and its two-hundred day simple moving average is $105.23. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $134.09. The firm has a market capitalization of $40.83 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.54 and a beta of 0.73.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.66%. The ex-dividend date was Thursday, March 14th. Crown Castle’s dividend payout ratio is currently 180.92%.

Analyst Ratings Changes

A number of brokerages have recently commented on CCI. BMO Capital Markets raised shares of Crown Castle from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Royal Bank of Canada raised their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $118.93.

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.