Fiduciary Alliance LLC Grows Stake in Crown Castle Inc. (NYSE:CCI)

Fiduciary Alliance LLC lifted its position in Crown Castle Inc. (NYSE:CCIFree Report) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 80,428 shares of the real estate investment trust’s stock after buying an additional 25,669 shares during the period. Crown Castle makes up about 1.8% of Fiduciary Alliance LLC’s investment portfolio, making the stock its 13th biggest position. Fiduciary Alliance LLC’s holdings in Crown Castle were worth $9,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of CCI. Norges Bank purchased a new position in shares of Crown Castle in the 4th quarter worth $642,077,000. Moneta Group Investment Advisors LLC raised its holdings in Crown Castle by 90,084.4% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 3,487,430 shares of the real estate investment trust’s stock worth $473,035,000 after purchasing an additional 3,483,563 shares during the period. National Bank of Canada FI raised its holdings in Crown Castle by 2,296.2% in the 3rd quarter. National Bank of Canada FI now owns 2,885,158 shares of the real estate investment trust’s stock worth $262,351,000 after purchasing an additional 2,764,751 shares during the period. Cohen & Steers Inc. raised its holdings in Crown Castle by 27.6% in the 2nd quarter. Cohen & Steers Inc. now owns 11,076,246 shares of the real estate investment trust’s stock worth $1,262,045,000 after purchasing an additional 2,398,791 shares during the period. Finally, The Manufacturers Life Insurance Company raised its holdings in Crown Castle by 42.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 7,083,665 shares of the real estate investment trust’s stock worth $651,910,000 after purchasing an additional 2,121,603 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Trading Down 1.5 %

Shares of CCI stock opened at $101.93 on Wednesday. Crown Castle Inc. has a 12-month low of $84.72 and a 12-month high of $136.29. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The stock’s 50-day moving average price is $108.10 and its 200-day moving average price is $104.60. The stock has a market capitalization of $44.29 billion, a price-to-earnings ratio of 29.46, a price-to-earnings-growth ratio of 2.75 and a beta of 0.74.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be issued a $1.565 dividend. The ex-dividend date is Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.14%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

Analysts Set New Price Targets

A number of equities analysts recently commented on CCI shares. HSBC started coverage on Crown Castle in a report on Thursday, December 14th. They issued a “hold” rating and a $110.00 target price on the stock. Royal Bank of Canada raised their target price on Crown Castle from $92.00 to $109.00 and gave the stock 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 raised their target price for the stock from $107.00 to $110.00 in a report on Friday, January 19th. Finally, Wells Fargo & Company raised Crown Castle from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $90.00 to $115.00 in a report on Tuesday, December 5th. Nine equities 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 a consensus price target of $121.33.

View Our Latest Analysis on CCI

Crown Castle Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Crown Castle (NYSE:CCI)

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