Capital Investment Advisory Services LLC Has $1.10 Million Holdings in Crown Castle Inc. (NYSE:CCI)

Capital Investment Advisory Services LLC boosted its stake in Crown Castle Inc. (NYSE:CCI) by 60.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,083 shares of the real estate investment trust’s stock after purchasing an additional 4,529 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Crown Castle were worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. OLD National Bancorp IN raised its stake in Crown Castle by 2.4% in the fourth quarter. OLD National Bancorp IN now owns 99,141 shares of the real estate investment trust’s stock valued at $8,998,000 after purchasing an additional 2,299 shares in the last quarter. Busey Bank grew its position in Crown Castle by 3.5% in the fourth quarter. Busey Bank now owns 80,139 shares of the real estate investment trust’s stock valued at $7,273,000 after acquiring an additional 2,724 shares during the last quarter. Abel Hall LLC bought a new position in Crown Castle in the fourth quarter valued at about $570,000. Forsta AP Fonden grew its position in Crown Castle by 7.1% in the fourth quarter. Forsta AP Fonden now owns 148,400 shares of the real estate investment trust’s stock valued at $13,469,000 after acquiring an additional 9,800 shares during the last quarter. Finally, Smith Group Asset Management LLC bought a new position in Crown Castle in the fourth quarter valued at about $1,815,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Price Performance

Shares of CCI opened at $88.99 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The business’s 50 day moving average price is $94.42 and its two-hundred day moving average price is $105.12. The firm has a market cap of $38.67 billion, a PE ratio of 31.56 and a beta of 0.87.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.03%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. TD Cowen decreased their target price 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. Wells Fargo & Company reduced their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a report on Thursday, January 23rd. Scotiabank reduced their price target on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday. Finally, Moffett Nathanson reduced their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $110.13.

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.