Crown Castle Inc. $CCI Shares Purchased by Waverly Advisors LLC

Waverly Advisors LLC boosted its stake in shares of Crown Castle Inc. (NYSE:CCI) by 9.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 93,635 shares of the real estate investment trust’s stock after purchasing an additional 7,848 shares during the period. Waverly Advisors LLC’s holdings in Crown Castle were worth $7,613,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CCI. Wiser Advisor Group LLC acquired a new position in Crown Castle in the third quarter valued at $29,000. Hilton Head Capital Partners LLC increased its stake in Crown Castle by 55.6% during the first quarter. Hilton Head Capital Partners LLC now owns 375 shares of the real estate investment trust’s stock worth $31,000 after acquiring an additional 134 shares during the last quarter. Triumph Capital Management purchased a new position in shares of Crown Castle in the 3rd quarter worth about $31,000. Global Assets Advisory LLC purchased a new position in shares of Crown Castle in the 1st quarter worth about $32,000. Finally, Salomon & Ludwin LLC lifted its stake in shares of Crown Castle by 128.7% in the 4th quarter. Salomon & Ludwin LLC now owns 382 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Citizens Jmp dropped their target price on shares of Crown Castle from $125.00 to $120.00 and set a “market outperform” rating for the company in a research report on Friday. Barclays lifted their price target on shares of Crown Castle from $91.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. BMO Capital Markets boosted their price objective on shares of Crown Castle from $91.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, April 17th. Royal Bank Of Canada dropped their price objective on shares of Crown Castle from $92.00 to $90.00 and set an “outperform” rating for the company in a research report on Thursday, July 23rd. Finally, JPMorgan Chase & Co. cut their target price on shares of Crown Castle from $95.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, July 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.92.

Crown Castle Stock Down 1.0%

NYSE CCI opened at $74.16 on Tuesday. The stock has a market cap of $32.37 billion, a PE ratio of 37.64, a P/E/G ratio of 0.40 and a beta of 0.95. Crown Castle Inc. has a fifty-two week low of $73.52 and a fifty-two week high of $112.75. The business has a 50 day moving average price of $84.07 and a two-hundred day moving average price of $85.63.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $1.0625 per share. The ex-dividend date was Monday, June 15th. This represents a $4.25 annualized dividend and a dividend yield of 5.7%. Crown Castle’s dividend payout ratio (DPR) is currently 215.74%.

Crown Castle Company Profile

Crown Castle is a U.S.-focused communications infrastructure company organized as a real estate investment trust (REIT) that owns, operates and leases shared wireless infrastructure. Its primary business consists of providing tower-based site leases, small cell networks and fiber solutions that support mobile voice and data transmission for wireless carriers, cable companies and other enterprise customers. The company’s assets are positioned to enable network coverage and capacity, including the densification projects associated with 4G LTE and 5G deployments.

Its product and service offerings include ground-based tower sites that host multiple wireless operators, distributed small cell nodes and associated fiber backhaul used to connect sites into carrier networks, and site development and maintenance services.