Access Financial Services Inc. Lowers Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Access Financial Services Inc. lowered its stake in shares of Crown Castle Inc. (NYSE:CCI) by 15.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,965 shares of the real estate investment trust’s stock after selling 2,262 shares during the quarter. Access Financial Services Inc.’s holdings in Crown Castle were worth $1,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CCI. FLC Capital Advisors boosted its holdings in Crown Castle by 15.0% in the 4th quarter. FLC Capital Advisors now owns 4,734 shares of the real estate investment trust’s stock valued at $545,000 after purchasing an additional 619 shares in the last quarter. IFG Advisory LLC purchased a new stake in Crown Castle in the 4th quarter valued at approximately $259,000. Columbia Trust Co 01012016 boosted its holdings in Crown Castle by 17.3% in the 4th quarter. Columbia Trust Co 01012016 now owns 4,128 shares of the real estate investment trust’s stock valued at $476,000 after purchasing an additional 609 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Crown Castle by 17.3% in the 4th quarter. Tectonic Advisors LLC now owns 4,698 shares of the real estate investment trust’s stock valued at $541,000 after purchasing an additional 694 shares in the last quarter. Finally, Pinnacle Wealth Management Group Inc. boosted its holdings in Crown Castle by 11.3% in the 4th quarter. Pinnacle Wealth Management Group Inc. now owns 4,664 shares of the real estate investment trust’s stock valued at $537,000 after purchasing an additional 475 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on CCI shares. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $90.00 to $115.00 in a research report on Tuesday, December 5th. BMO Capital Markets upgraded Crown Castle from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $107.00 to $110.00 in a research report on Friday, January 19th. Finally, HSBC started coverage on Crown Castle in a research report on Thursday, December 14th. They set a “hold” rating and a $110.00 price objective for the company. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.33.

Crown Castle Stock Up 0.2 %

Shares of NYSE CCI opened at $105.83 on Friday. Crown Castle Inc. has a 52-week low of $84.72 and a 52-week high of $136.29. The firm has a fifty day moving average of $107.87 and a 200-day moving average of $104.62. The stock has a market capitalization of $45.99 billion, a PE ratio of 30.59, a P/E/G ratio of 2.80 and a beta of 0.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 3.46.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 5.92%. Crown Castle’s dividend payout ratio is presently 180.92%.

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.