Buffington Mohr McNeal Sells 2,260 Shares of Crown Castle Inc. (NYSE:CCI)

Buffington Mohr McNeal lessened its stake in Crown Castle Inc. (NYSE:CCI) by 16.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,161 shares of the real estate investment trust’s stock after selling 2,260 shares during the period. Buffington Mohr McNeal’s holdings in Crown Castle were worth $1,286,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in CCI. Riverview Trust Co grew its holdings in shares of 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 acquiring an additional 140 shares during the period. ST Germain D J Co. Inc. bought a new stake in shares of Crown Castle during the 2nd quarter valued at about $27,000. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle during the 3rd quarter valued at about $28,000. PCA Investment Advisory Services Inc. purchased a new stake in shares of Crown Castle during the 2nd quarter valued at about $29,000. Finally, Operose Advisors LLC bought a new position in shares of Crown Castle in the 3rd quarter worth approximately $30,000. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Price Performance

Shares of Crown Castle stock traded down $1.38 on Tuesday, hitting $94.27. 1,799,817 shares of the company traded hands, compared to its average volume of 2,730,256. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $134.09. The business has a 50-day simple moving average of $105.96 and a 200 day simple moving average of $105.22. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $40.96 billion, a P/E ratio of 27.64, a price-to-earnings-growth ratio of 2.57 and a beta of 0.73.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.64%. The ex-dividend date was Thursday, March 14th. Crown Castle’s payout ratio is currently 180.92%.

Analyst Ratings Changes

A number of brokerages have commented on CCI. Royal Bank of Canada upped their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a report on Wednesday, February 21st. BMO Capital Markets raised Crown Castle from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $107.00 to $110.00 in a report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $118.93.

About Crown Castle

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.