LifePlan Financial LLC Invests $216,000 in Crown Castle Inc. (NYSE:CCI)

LifePlan Financial LLC bought a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,382 shares of the real estate investment trust’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CCI. Catalyst Capital Advisors LLC bought a new position in Crown Castle in the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton increased its position in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after buying an additional 136 shares during the period. FNY Investment Advisers LLC raised its stake in Crown Castle by 300.0% in the fourth 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 in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in Crown Castle in the third quarter worth about $47,000. Finally, Friedenthal Financial bought a new stake in Crown Castle during the 3rd quarter valued at approximately $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 0.4 %

Crown Castle stock opened at $91.03 on Tuesday. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a fifty day simple moving average of $96.40 and a two-hundred day simple moving average of $105.63. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm has a market cap of $39.56 billion, a price-to-earnings ratio of 32.28 and a beta of 0.87.

Crown Castle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a $1.565 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.88%. Crown Castle’s payout ratio is 221.99%.

Analyst Ratings Changes

Several brokerages have recently issued reports on CCI. Royal Bank of Canada increased their target price on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. Wells Fargo & Company lowered Crown Castle from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $105.00 to $100.00 in a research report on Tuesday, December 10th. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research report on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their price target for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Crown Castle from $115.00 to $124.00 and gave the stock a “neutral” rating in a report on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $113.00.

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.