Keel Point LLC Takes $219,000 Position in Crown Castle Inc. (NYSE:CCI)

Keel Point LLC purchased a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,903 shares of the real estate investment trust’s stock, valued at approximately $219,000.

Other institutional investors have also recently bought and sold shares of the company. Riverview Trust Co boosted 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 buying an additional 140 shares during the period. Almanack Investment Partners LLC. acquired a new position in Crown Castle in the 3rd quarter worth approximately $28,000. PCA Investment Advisory Services Inc. purchased a new position in Crown Castle during the 2nd quarter worth approximately $29,000. Operose Advisors LLC acquired a new stake in Crown Castle during the 3rd quarter valued at $30,000. Finally, Valley National Advisers Inc. lifted its holdings in shares of Crown Castle by 51.1% in the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 97 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent analyst reports. 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 research report on Wednesday, February 21st. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Nine analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $118.93.

Crown Castle Trading Down 1.8 %

Shares of NYSE CCI opened at $93.93 on Wednesday. The business has a 50 day simple moving average of $105.69 and a 200 day simple moving average of $105.23. Crown Castle Inc. has a 52 week low of $84.72 and a 52 week high of $134.09. The stock has a market cap of $40.81 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 2.54 and a beta of 0.73. The company has a debt-to-equity ratio of 3.46, a quick ratio of 0.40 and a current ratio of 0.40.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.66%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s dividend 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.