Access Financial Services Inc. Sells 2,262 Shares of Crown Castle Inc. (NYSE:CCI)

Access Financial Services Inc. decreased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,965 shares of the real estate investment trust’s stock after selling 2,262 shares during the period. Access Financial Services Inc.’s holdings in Crown Castle were worth $1,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CCI. Almanack Investment Partners LLC. purchased a new stake in Crown Castle during the third quarter valued at approximately $28,000. ST Germain D J Co. Inc. purchased a new stake in Crown Castle during the second quarter valued at approximately $27,000. West Tower Group LLC purchased a new stake in Crown Castle during the second quarter valued at approximately $28,000. Union Savings Bank purchased a new stake in Crown Castle during the second quarter valued at approximately $27,000. Finally, PCA Investment Advisory Services Inc. purchased a new stake in Crown Castle during the second quarter valued at approximately $29,000. Institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

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

Crown Castle Price Performance

Crown Castle stock opened at $105.83 on Friday. The firm has a 50-day moving average price of $107.87 and a 200-day moving average price of $104.62. The firm has a market capitalization of $45.99 billion, a PE ratio of 30.59, a price-to-earnings-growth ratio of 2.80 and a beta of 0.74. 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.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 annualized dividend and a dividend yield of 5.92%. Crown Castle’s dividend payout ratio (DPR) is presently 180.92%.

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.