Stifel Financial Corp Lowers Stake in Crown Castle Inc. (NYSE:CCI)

Stifel Financial Corp decreased its holdings in shares of Crown Castle Inc. (NYSE:CCI - Free Report) by 52.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 530,370 shares of the real estate investment trust's stock after selling 593,885 shares during the period. Stifel Financial Corp owned 0.12% of Crown Castle worth $48,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Twin Tree Management LP bought a new stake in Crown Castle in the 4th quarter worth about $25,000. FNY Investment Advisers LLC grew its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust's stock worth $36,000 after acquiring an additional 300 shares during the period. Roxbury Financial LLC purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $37,000. Marshall Investment Management LLC bought a new position in Crown Castle during the fourth quarter valued at approximately $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in Crown Castle in the 4th quarter worth approximately $53,000. Institutional investors own 90.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CCI shares. Bank of America assumed coverage on Crown Castle in a research note on Thursday, March 20th. They issued a "neutral" rating and a $110.00 price target on the stock. Wells Fargo & Company upgraded shares of Crown Castle from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $85.00 to $105.00 in a research note on Monday, March 17th. Scotiabank boosted their target price on shares of Crown Castle from $99.00 to $109.00 and gave the company a "sector perform" rating in a research report on Tuesday, April 22nd. Argus upgraded Crown Castle to a "hold" rating in a research note on Friday, March 21st. Finally, JPMorgan Chase & Co. reduced their price target on 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 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $110.47.

Crown Castle Price Performance

Crown Castle stock traded up $2.85 during mid-day trading on Tuesday, reaching $103.77. 838,154 shares of the company's stock traded hands, compared to its average volume of 2,872,266. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. 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 stock has a 50 day moving average of $99.26 and a two-hundred day moving average of $98.18. The company has a market cap of $45.18 billion, a price-to-earnings ratio of 36.75 and a beta of 0.93.

Crown Castle Dividend Announcement

The business also recently disclosed 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%.

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.