Crown Castle Inc. (NYSE:CCI) Stock Position Reduced by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC trimmed its position in Crown Castle Inc. (NYSE:CCI) by 4.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 253,717 shares of the real estate investment trust’s stock after selling 11,317 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.06% of Crown Castle worth $23,027,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in CCI. Nordea Investment Management AB raised its holdings in shares of Crown Castle by 29.4% during the fourth quarter. Nordea Investment Management AB now owns 1,243,722 shares of the real estate investment trust’s stock worth $113,465,000 after purchasing an additional 282,821 shares during the period. Van ECK Associates Corp grew its position in shares of Crown Castle by 24.7% during the 3rd quarter. Van ECK Associates Corp now owns 157,895 shares of the real estate investment trust’s stock valued at $17,476,000 after buying an additional 31,319 shares during the last quarter. Oak Thistle LLC acquired a new stake in Crown Castle during the fourth quarter worth about $1,231,000. Avanza Fonder AB bought a new position in Crown Castle in the fourth quarter worth about $3,083,000. Finally, Fisher Asset Management LLC boosted its stake in Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CCI has been the topic of a number of research reports. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price target for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft cut their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their price target on shares of Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company cut their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Finally, TD Cowen decreased their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $109.80.

Crown Castle Price Performance

NYSE:CCI opened at $88.49 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business’s 50-day moving average price is $95.59 and its 200 day moving average price is $105.36. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The firm has a market cap of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $1.565 dividend. The ex-dividend date of this dividend 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 currently 221.99%.

About Crown Castle

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.