Maple Brown Abbott Ltd Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Maple Brown Abbott Ltd lowered its stake in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 908,778 shares of the real estate investment trust's stock after selling 77,510 shares during the period. Crown Castle makes up 10.8% of Maple Brown Abbott Ltd's investment portfolio, making the stock its 3rd biggest holding. Maple Brown Abbott Ltd owned about 0.21% of Crown Castle worth $104,682,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Riverview Trust Co raised its position in Crown Castle by 108.5% in 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 in the last quarter. Almanack Investment Partners LLC. bought a new stake in Crown Castle during the third quarter worth about $28,000. PCA Investment Advisory Services Inc. bought a new stake in Crown Castle during the second quarter worth about $29,000. Operose Advisors LLC bought a new stake in Crown Castle during the third quarter worth about $30,000. Finally, Valley National Advisers Inc. boosted its stake in Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust's stock valued at $33,000 after acquiring an additional 97 shares during the last quarter. Institutional investors and hedge funds own 90.77% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. BMO Capital Markets raised shares of Crown Castle from an "underperform" rating to a "market perform" rating and raised their price objective for the company from $107.00 to $110.00 in a research note on Friday, January 19th. Royal Bank of Canada increased their target price on shares of Crown Castle from $92.00 to $109.00 and gave the stock a "sector perform" rating in a report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Crown Castle currently has a consensus rating of "Hold" and an average price target of $118.93.

Crown Castle Stock Down 1.0 %

CCI stock traded down $0.93 during midday trading on Wednesday, hitting $93.03. The company's stock had a trading volume of 3,984,341 shares, compared to its average volume of 2,780,121. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $134.09. The company's fifty day moving average price is $105.69 and its 200 day moving average price is $105.23. The stock has a market capitalization of $40.42 billion, a P/E ratio of 27.15, a PEG ratio of 2.54 and a beta of 0.73.

Crown Castle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date was Thursday, March 14th. 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.