Crown Castle Inc. (NYSE:CCI) Shares Acquired by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 7.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,474 shares of the real estate investment trust’s stock after buying an additional 173 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Crown Castle were worth $225,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC grew its holdings in shares of Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle during the fourth quarter worth about $37,000. Investors Research Corp grew its holdings in shares of Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares during the last quarter. Marshall Investment Management LLC purchased a new position in shares of Crown Castle during the fourth quarter worth about $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle during the fourth quarter worth about $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Scotiabank lowered their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating on the stock in a report on Friday. Citigroup boosted their target price on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a research report on Friday. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price on the stock in a research report on Friday. Finally, Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and dropped their target price for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $109.12.

Crown Castle Price Performance

CCI stock opened at $103.20 on Friday. 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 quick ratio of 0.54 and a current ratio of 0.54. The stock’s 50 day moving average price is $91.00 and its 200 day moving average price is $101.40. The firm has a market cap of $44.85 billion, a P/E ratio of 36.59 and a beta of 0.89.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.07%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is presently 221.99%.

About Crown Castle

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.