Independent Advisor Alliance Invests $396,000 in Crown Castle Inc. (NYSE:CCI)

Independent Advisor Alliance bought a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,359 shares of the real estate investment trust’s stock, valued at approximately $396,000.

Several other institutional investors and hedge funds have also modified their holdings of CCI. FNY Investment Advisers LLC lifted its position in shares of Crown Castle by 300.0% during the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new stake in shares of Crown Castle during the 4th quarter worth $37,000. Investors Research Corp lifted its position in shares of Crown Castle by 57.2% during the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares during the last quarter. Marshall Investment Management LLC bought a new stake in shares of Crown Castle during the 4th quarter worth $50,000. Finally, Bank of Jackson Hole Trust bought a new stake in shares of Crown Castle during the 4th quarter worth $53,000. 90.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CCI shares. Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They issued an “outperform” rating and a $115.00 target price for the company. KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 target price for the company in a research report on Friday. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research report on Monday, January 27th. Finally, Wolfe Research upgraded Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Trading Down 0.3 %

NYSE CCI opened at $102.91 on Tuesday. The business has a 50 day simple moving average of $91.29 and a 200 day simple moving average of $101.26. Crown Castle Inc. has a one year low of $84.20 and a one year high of $120.92. The stock has a market capitalization of $44.73 billion, a P/E ratio of 36.49 and a beta of 0.89. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54.

Crown Castle Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.08%. Crown Castle’s dividend payout ratio is currently -69.71%.

Crown Castle 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.