Keudell Morrison Wealth Management Buys 836 Shares of Crown Castle Inc. (NYSE:CCI)

Keudell Morrison Wealth Management lifted its position in Crown Castle Inc. (NYSE:CCI) by 15.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,128 shares of the real estate investment trust’s stock after acquiring an additional 836 shares during the period. Keudell Morrison Wealth Management’s holdings in Crown Castle were worth $556,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CCI. Wellington Management Group LLP raised its holdings in Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after purchasing an additional 3,371,186 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Crown Castle by 433.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock worth $470,838,000 after acquiring an additional 3,225,460 shares in the last quarter. International Assets Investment Management LLC grew its stake in Crown Castle by 13,271.6% in the third quarter. International Assets Investment Management LLC now owns 973,185 shares of the real estate investment trust’s stock valued at $115,449,000 after acquiring an additional 965,907 shares during the period. State Street Corp increased its holdings in shares of Crown Castle by 3.7% in the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after acquiring an additional 747,390 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in shares of Crown Castle by 25.4% during the third quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock worth $375,610,000 after purchasing an additional 642,010 shares during the period. Institutional investors own 90.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CCI shares. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $117.00 to $104.00 in a research report on Monday, January 13th. TD Cowen lowered their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. Citizens Jmp raised shares of Crown Castle to a “strong-buy” rating in a research report on Monday. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Scotiabank cut 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. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $110.13.

Crown Castle Price Performance

NYSE:CCI opened at $88.99 on Friday. The stock has a market capitalization of $38.67 billion, a PE ratio of 31.56 and a beta of 0.87. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The firm has a fifty day simple moving average of $94.11 and a 200 day simple moving average of $105.01. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43.

Crown Castle Dividend Announcement

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

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.