Teamwork Financial Advisors LLC Sells 287 Shares of Crown Castle Inc. (NYSE:CCI)

Teamwork Financial Advisors LLC reduced its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 12.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,093 shares of the real estate investment trust’s stock after selling 287 shares during the period. Teamwork Financial Advisors LLC’s holdings in Crown Castle were worth $241,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp raised its position in Crown Castle by 1.4% during the 2nd quarter. State Street Corp now owns 20,907,232 shares of the real estate investment trust’s stock valued at $2,382,170,000 after purchasing an additional 279,702 shares in the last quarter. Morgan Stanley raised its position in Crown Castle by 8.9% during the 3rd quarter. Morgan Stanley now owns 13,078,861 shares of the real estate investment trust’s stock valued at $1,203,648,000 after purchasing an additional 1,064,382 shares in the last quarter. FMR LLC raised its position in Crown Castle by 14.3% during the 3rd quarter. FMR LLC now owns 11,936,611 shares of the real estate investment trust’s stock valued at $1,098,526,000 after purchasing an additional 1,496,330 shares in the last quarter. Cohen & Steers Inc. raised its position in Crown Castle by 27.6% during the 2nd quarter. Cohen & Steers Inc. now owns 11,076,246 shares of the real estate investment trust’s stock valued at $1,262,045,000 after purchasing an additional 2,398,791 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in Crown Castle by 21.9% during the 3rd quarter. Wellington Management Group LLP now owns 10,134,538 shares of the real estate investment trust’s stock valued at $932,682,000 after purchasing an additional 1,818,910 shares in the last quarter. 90.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Crown Castle Stock Performance

Shares of CCI stock traded up $0.24 on Friday, hitting $105.83. The company had a trading volume of 2,074,242 shares, compared to its average volume of 2,594,567. The firm has a market cap of $45.99 billion, a P/E ratio of 30.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74. The company has a 50-day moving average price of $107.83 and a 200-day moving average price of $104.63. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46. Crown Castle Inc. has a twelve month low of $84.72 and a twelve month high of $136.29.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 5.92%. Crown Castle’s payout ratio is 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.