Merit Financial Group LLC acquired a new stake in shares of Crown Castle Inc. (NYSE:CCI – Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 3,619 shares of the real estate investment trust’s stock, valued at approximately $328,000.
Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Crown Castle by 31.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock valued at $122,000 after acquiring an additional 301 shares in the last quarter. Fred Alger Management LLC grew its position in shares of Crown Castle by 10.0% during the second quarter. Fred Alger Management LLC now owns 40,218 shares of the real estate investment trust’s stock valued at $3,929,000 after purchasing an additional 3,655 shares in the last quarter. AXA S.A. increased its holdings in shares of Crown Castle by 42.2% in the second quarter. AXA S.A. now owns 77,912 shares of the real estate investment trust’s stock worth $7,612,000 after purchasing an additional 23,124 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Crown Castle by 201.2% in the second quarter. APG Asset Management N.V. now owns 52,093 shares of the real estate investment trust’s stock worth $4,749,000 after buying an additional 34,800 shares in the last quarter. Finally, MBB Public Markets I LLC grew its holdings in Crown Castle by 1,198.7% during the 2nd quarter. MBB Public Markets I LLC now owns 30,363 shares of the real estate investment trust’s stock valued at $2,966,000 after buying an additional 28,025 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.
A number of research analysts have recently commented on CCI shares. Moffett Nathanson lowered their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday. Scotiabank dropped their price objective on shares of Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research note on Thursday. Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average price target of $109.80.
Shares of CCI opened at $88.49 on Friday. The company has a 50-day moving average of $95.59 and a 200 day moving average of $105.36. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a market capitalization of $38.46 billion, a price-to-earnings ratio of 31.38 and a beta of 0.87.
The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 7.07%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is 221.99%.
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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