Crown Castle Inc. (NYSE:CCI) Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 84.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,831 shares of the real estate investment trust’s stock after purchasing an additional 1,294 shares during the period. EverSource Wealth Advisors LLC’s holdings in Crown Castle were worth $257,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FNY Investment Advisers LLC lifted its stake in Crown Castle by 300.0% during the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares in the last quarter. Roxbury Financial LLC purchased a new stake in shares of Crown Castle in the 4th quarter valued at approximately $37,000. Investors Research Corp boosted its stake in Crown Castle by 57.2% in the 3rd quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the period. Marshall Investment Management LLC acquired a new position in Crown Castle in the 4th quarter worth approximately $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in Crown Castle during the 4th quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Stock Performance

NYSE:CCI opened at $103.20 on Friday. The firm has a market capitalization of $44.85 billion, a PE ratio of 36.59 and a beta of 0.89. 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 Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm’s fifty day simple moving average is $91.00 and its 200 day simple moving average is $101.40.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a dividend yield of 6.07%. Crown Castle’s dividend payout ratio is presently 221.99%.

Analyst Ratings Changes

Several brokerages have recently commented on CCI. Wells Fargo & Company decreased their target price on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. JMP Securities started coverage on shares of Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target for the company. Citigroup upped their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $117.00 to $104.00 in a research note on Monday, January 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle currently has an average rating of “Moderate Buy” and a consensus target price of $109.12.

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.