United Asset Strategies Inc. Acquires 815 Shares of Crown Castle Inc. (NYSE:CCI)

United Asset Strategies Inc. raised its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 19.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,986 shares of the real estate investment trust’s stock after acquiring an additional 815 shares during the quarter. United Asset Strategies Inc.’s holdings in Crown Castle were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of CCI. Almanack Investment Partners LLC. bought a new stake in shares of Crown Castle in the third quarter worth about $28,000. PCA Investment Advisory Services Inc. bought a new stake in Crown Castle during the second quarter worth approximately $29,000. Riverview Trust Co boosted its position in shares of Crown Castle by 108.5% during the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 140 shares during the period. ICA Group Wealth Management LLC purchased a new position in shares of Crown Castle during the fourth quarter valued at approximately $37,000. Finally, Valley National Advisers Inc. boosted its position in shares of Crown Castle by 51.1% during the fourth quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock valued at $33,000 after buying an additional 97 shares during the period. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

NYSE CCI opened at $93.03 on Thursday. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The stock’s fifty day moving average price is $105.41 and its 200 day moving average price is $105.15. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $134.09. The company has a market cap of $40.42 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.50 and a beta of 0.73.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 6.73%. The ex-dividend date of this dividend was Thursday, March 14th. Crown Castle’s payout ratio is 180.92%.

Wall Street Analysts Forecast Growth

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

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.