Crown Castle Inc. (NYSE:CCI) Shares Sold by West Paces Advisors Inc.

West Paces Advisors Inc. lessened its position in Crown Castle Inc. (NYSE:CCI) by 38.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 637 shares of the real estate investment trust’s stock after selling 396 shares during the period. West Paces Advisors Inc.’s holdings in Crown Castle were worth $73,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Almanack Investment Partners LLC. acquired a new position in Crown Castle during the third quarter worth approximately $28,000. PCA Investment Advisory Services Inc. acquired a new position in Crown Castle during the second quarter worth approximately $29,000. Riverview Trust Co increased its position in Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in Crown Castle during the fourth quarter worth approximately $37,000. Finally, Valley National Advisers Inc. increased its position in Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on CCI shares. Royal Bank of Canada boosted 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. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and boosted their price objective for the stock from $107.00 to $110.00 in a research note on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $118.93.

Crown Castle Price Performance

Shares of CCI stock opened at $93.96 on Wednesday. The company has a market capitalization of $40.83 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 2.54 and a beta of 0.73. The firm has a fifty day simple moving average of $105.69 and a 200-day simple moving average of $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 twelve month low of $84.72 and a twelve month high of $134.09.

Crown Castle Announces Dividend

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

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.