Crown Castle Inc. (NYSE:CCI) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC cut its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,484 shares of the real estate investment trust’s stock after selling 1,421 shares during the period. Schechter Investment Advisors LLC’s holdings in Crown Castle were worth $977,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Tectonic Advisors LLC increased its position in shares of Crown Castle by 17.3% in the 4th quarter. Tectonic Advisors LLC now owns 4,698 shares of the real estate investment trust’s stock valued at $541,000 after acquiring an additional 694 shares during the period. Pinnacle Wealth Management Group Inc. increased its position in shares of Crown Castle by 11.3% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 4,664 shares of the real estate investment trust’s stock valued at $537,000 after acquiring an additional 475 shares during the period. Abundance Wealth Counselors increased its position in shares of Crown Castle by 6.1% in the 4th quarter. Abundance Wealth Counselors now owns 6,096 shares of the real estate investment trust’s stock valued at $702,000 after acquiring an additional 353 shares during the period. Fiduciary Alliance LLC grew its position in Crown Castle by 46.9% during the 4th quarter. Fiduciary Alliance LLC now owns 80,428 shares of the real estate investment trust’s stock worth $9,264,000 after purchasing an additional 25,669 shares during the period. Finally, Simon Quick Advisors LLC grew its position in Crown Castle by 4.7% during the 4th quarter. Simon Quick Advisors LLC now owns 14,616 shares of the real estate investment trust’s stock worth $1,684,000 after purchasing an additional 654 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Crown Castle Trading Up 3.6 %

CCI stock opened at $105.59 on Thursday. 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 12-month low of $84.72 and a 12-month high of $136.29. The stock has a market cap of $45.88 billion, a price-to-earnings ratio of 30.52, a PEG ratio of 2.71 and a beta of 0.74. The business’s 50-day moving average is $107.92 and its 200 day moving average is $104.61.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Friday, March 15th will be issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 5.93%. The ex-dividend date of this dividend is Thursday, March 14th. Crown Castle’s payout ratio is 180.92%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on CCI. Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $90.00 to $115.00 in a research report on Tuesday, December 5th. HSBC began coverage on Crown Castle in a research report on Thursday, December 14th. They set a “hold” rating and a $110.00 price target on the stock. Royal Bank of Canada increased their price target on Crown Castle from $92.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 21st. Finally, BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and increased their price target for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $121.33.

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.