BI Asset Management Fondsmaeglerselskab A S Decreases Position in Crown Castle Inc. (NYSE:CCI)

BI Asset Management Fondsmaeglerselskab A S cut its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 16.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,021 shares of the real estate investment trust's stock after selling 5,215 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Crown Castle were worth $2,452,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Twin Tree Management LP acquired a new stake in Crown Castle in the fourth quarter valued at approximately $25,000. FNY Investment Advisers LLC boosted its position in shares of Crown Castle by 300.0% in the 4th 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 in the last quarter. Roxbury Financial LLC purchased a new position in Crown Castle during the 4th quarter worth $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle in the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new stake in shares of Crown Castle during the fourth quarter worth about $53,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Crown Castle Price Performance

CCI traded down $0.57 during trading on Friday, hitting $100.18. The company's stock had a trading volume of 1,716,710 shares, compared to its average volume of 2,880,033. The firm has a market capitalization of $43.62 billion, a price-to-earnings ratio of 35.52 and a beta of 0.93. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The business's fifty day simple moving average is $99.02 and its 200 day simple moving average is $98.42. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a $1.565 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.25%. Crown Castle's dividend payout ratio is currently -69.71%.

Analysts Set New Price Targets

Several analysts have weighed in on CCI shares. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Crown Castle from $116.00 to $96.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. StockNews.com raised Crown Castle from a "sell" rating to a "hold" rating in a research report on Saturday, April 19th. Wolfe Research raised Crown Castle from an "underperform" rating to a "peer perform" rating in a report on Monday, March 17th. JPMorgan Chase & Co. dropped their target price on Crown Castle from $121.00 to $115.00 and set a "neutral" rating on the stock in a research report on Monday, March 17th. Finally, Scotiabank lifted their price objective on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research note on Tuesday. Twelve research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $110.47.

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.