Inlet Private Wealth LLC Purchases 19,370 Shares of Crown Castle Inc. (NYSE:CCI)

Inlet Private Wealth LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 62.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 50,533 shares of the real estate investment trust’s stock after buying an additional 19,370 shares during the quarter. Crown Castle comprises about 1.2% of Inlet Private Wealth LLC’s holdings, making the stock its 29th largest position. Inlet Private Wealth LLC’s holdings in Crown Castle were worth $4,586,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in Crown Castle by 2.1% during the 2nd quarter. NewEdge Advisors LLC now owns 17,879 shares of the real estate investment trust’s stock valued at $1,747,000 after purchasing an additional 372 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Crown Castle by 9.8% during the second quarter. Clearbridge Investments LLC now owns 3,335 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 297 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in Crown Castle during the second quarter worth $11,229,000. Trust Co. of Toledo NA OH raised its position in Crown Castle by 7.1% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 9,342 shares of the real estate investment trust’s stock valued at $1,108,000 after buying an additional 621 shares during the last quarter. Finally, AMF Tjanstepension AB lifted its stake in Crown Castle by 11.7% during the 3rd quarter. AMF Tjanstepension AB now owns 166,922 shares of the real estate investment trust’s stock valued at $19,835,000 after acquiring an additional 17,524 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.2 %

Shares of CCI stock opened at $89.25 on Friday. The stock has a market capitalization of $38.79 billion, a price-to-earnings ratio of 31.65 and a beta of 0.87. The company’s fifty day simple moving average is $93.78 and its two-hundred day simple moving average is $104.91. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date was Friday, December 13th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.01%. Crown Castle’s payout ratio is 221.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCI. Wells Fargo & Company reduced their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft reduced their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. TD Cowen cut their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Royal Bank of Canada upped their price objective on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. Finally, JMP Securities assumed coverage on Crown Castle in a research note on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and an average target price of $110.13.

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.