Smith Group Asset Management LLC Takes $1.82 Million Position in Crown Castle Inc. (NYSE:CCI)

Smith Group Asset Management LLC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 20,000 shares of the real estate investment trust’s stock, valued at approximately $1,815,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinnacle Bancorp Inc. boosted its stake in Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after buying an additional 90 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares in the last quarter. True North Advisors LLC grew its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 95 shares during the last quarter. Malaga Cove Capital LLC grew its stake in shares of Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after buying an additional 100 shares during the last quarter. Finally, Tsfg LLC increased its holdings in shares of Crown Castle by 27.5% during the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 117 shares in the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CCI shares. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $117.00 to $104.00 in a research note on Monday, January 13th. UBS Group boosted their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and dropped their price target for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. TD Cowen reduced their price objective on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a research note on Thursday, October 17th. Finally, Moffett Nathanson decreased their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has a consensus rating of “Hold” and an average price target of $110.13.

Crown Castle Trading Down 3.0 %

NYSE:CCI opened at $89.63 on Wednesday. The firm has a fifty day simple moving average of $94.75 and a two-hundred day simple moving average of $105.24. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock has a market capitalization of $38.95 billion, a price-to-earnings ratio of 31.78 and a beta of 0.87. 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 announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were given a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is 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.