Wealth Alliance Decreases Stock Position in Crown Castle Inc. (NYSE:CCI)

Wealth Alliance lowered its stake in Crown Castle Inc. (NYSE:CCI) by 18.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,881 shares of the real estate investment trust’s stock after selling 1,995 shares during the quarter. Wealth Alliance’s holdings in Crown Castle were worth $1,023,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Magnolia Capital Advisors LLC increased its holdings in Crown Castle by 3.2% during the fourth quarter. Magnolia Capital Advisors LLC now owns 2,375 shares of the real estate investment trust’s stock valued at $322,000 after buying an additional 73 shares during the period. Summit Financial Group Inc. increased its holdings in Crown Castle by 5.5% during the third quarter. Summit Financial Group Inc. now owns 1,638 shares of the real estate investment trust’s stock valued at $237,000 after buying an additional 85 shares during the period. Orion Portfolio Solutions LLC boosted its stake in Crown Castle by 2.4% in the first quarter. Orion Portfolio Solutions LLC now owns 3,678 shares of the real estate investment trust’s stock valued at $679,000 after acquiring an additional 86 shares in the last quarter. Townsend & Associates Inc boosted its stake in Crown Castle by 5.7% in the fourth quarter. Townsend & Associates Inc now owns 1,682 shares of the real estate investment trust’s stock valued at $238,000 after acquiring an additional 90 shares in the last quarter. Finally, Dakota Community Bank & Trust NA boosted its stake in Crown Castle by 4.2% in the third quarter. Dakota Community Bank & Trust NA now owns 2,215 shares of the real estate investment trust’s stock valued at $204,000 after acquiring an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

CCI has been the subject of several recent analyst reports. Royal Bank of Canada raised their target price on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 21st. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and raised their target price for the company from $107.00 to $110.00 in a research note on Friday, January 19th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $118.93.

Crown Castle Trading Down 1.8 %

NYSE:CCI opened at $93.93 on Wednesday. Crown Castle Inc. has a 12 month low of $84.72 and a 12 month high of $134.09. The firm has a fifty day simple moving average of $105.69 and a 200-day simple moving average of $105.23. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 3.46. The company has a market capitalization of $40.81 billion, a P/E ratio of 27.15, a PEG ratio of 2.54 and a beta of 0.73.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a dividend of $1.565 per share. The ex-dividend date was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.66%. Crown Castle’s dividend payout ratio is presently 180.92%.

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.