Crown Castle Inc. (NYSE:CCI) Shares Sold by Pinebridge Investments L.P.

Pinebridge Investments L.P. lowered its position in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 166,435 shares of the real estate investment trust's stock after selling 12,941 shares during the quarter. Pinebridge Investments L.P.'s holdings in Crown Castle were worth $15,106,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Twin Tree Management LP purchased a new position in shares of Crown Castle in the 4th quarter valued at about $25,000. FNY Investment Advisers LLC grew its stake in 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 valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC acquired a new stake in Crown Castle in the 4th quarter valued at about $37,000. Marshall Investment Management LLC acquired a new stake in Crown Castle during the fourth quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the 4th quarter valued at $53,000. Hedge funds and other institutional investors own 90.77% of the company's stock.

Crown Castle Stock Performance

CCI stock traded up $2.85 during trading on Tuesday, reaching $103.77. 917,515 shares of the company's stock were exchanged, compared to its average volume of 2,872,672. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company's fifty day moving average price is $99.26 and its 200-day moving average price is $98.18. The firm has a market cap of $45.18 billion, a PE ratio of 36.80 and a beta of 0.93.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $1.565 per share. The ex-dividend date was Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.03%. Crown Castle's dividend payout ratio (DPR) is presently -69.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CCI. Barclays upped their price objective on Crown Castle from $104.00 to $113.00 and gave the stock an "overweight" rating in a report on Monday, March 17th. Wells Fargo & Company upgraded Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $85.00 to $105.00 in a report on Monday, March 17th. StockNews.com upgraded Crown Castle from a "sell" rating to a "hold" rating in a report on Saturday, April 19th. Argus raised shares of Crown Castle to a "hold" rating in a research report on Friday, March 21st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Crown Castle from $121.00 to $115.00 and set a "neutral" rating for the company in a research report on Monday, March 17th. Twelve equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of "Moderate Buy" and a consensus target price of $110.47.

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.