Ellsworth Advisors LLC Acquires 302 Shares of Crown Castle Inc. (NYSE:CCI)

Ellsworth Advisors LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 5.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,165 shares of the real estate investment trust’s stock after buying an additional 302 shares during the quarter. Ellsworth Advisors LLC’s holdings in Crown Castle were worth $560,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CCI. Summit Trail Advisors LLC raised its holdings in Crown Castle by 16.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 4,916 shares of the real estate investment trust’s stock worth $480,000 after purchasing an additional 704 shares during the last quarter. Profund Advisors LLC raised its holdings in Crown Castle by 2.9% during the 2nd quarter. Profund Advisors LLC now owns 6,729 shares of the real estate investment trust’s stock worth $657,000 after purchasing an additional 188 shares during the last quarter. Frank Rimerman Advisors LLC raised its holdings in Crown Castle by 55,756.3% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,937 shares of the real estate investment trust’s stock worth $873,000 after purchasing an additional 8,921 shares during the last quarter. Gabelli Funds LLC raised its holdings in Crown Castle by 1.1% during the 2nd quarter. Gabelli Funds LLC now owns 46,805 shares of the real estate investment trust’s stock worth $4,573,000 after purchasing an additional 500 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in Crown Castle by 31.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,251 shares of the real estate investment trust’s stock worth $122,000 after purchasing an additional 301 shares during the last quarter. 90.77% of the stock is owned by institutional investors.

Crown Castle Trading Up 0.4 %

NYSE:CCI opened at $91.03 on Tuesday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The business has a 50 day moving average price of $96.66 and a two-hundred day moving average price of $105.67. The company has a market cap of $39.56 billion, a P/E ratio of 32.28 and a beta of 0.87.

Crown Castle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.88%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analysts Forecast Growth

CCI has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a report on Monday, October 28th. JPMorgan Chase & Co. boosted their price objective on Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $105.00 to $100.00 in a research report on Tuesday, December 10th. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, TD Cowen decreased their target price on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Crown Castle currently has a consensus rating of “Hold” and an average price target of $113.00.

Crown Castle Company 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.