Carmel Capital Partners LLC Grows Stock Position in Crown Castle Inc. (NYSE:CCI)

Carmel Capital Partners LLC grew its position in Crown Castle Inc. (NYSE:CCI) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,029 shares of the real estate investment trust’s stock after acquiring an additional 483 shares during the quarter. Carmel Capital Partners LLC’s holdings in Crown Castle were worth $366,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Inceptionr LLC purchased a new position in shares of Crown Castle in the fourth quarter valued at approximately $418,000. Raymond James Financial Inc. purchased a new position in shares of Crown Castle in the fourth quarter valued at approximately $95,167,000. Aigen Investment Management LP purchased a new position in shares of Crown Castle in the fourth quarter valued at approximately $209,000. Proficio Capital Partners LLC lifted its position in Crown Castle by 5.5% during the fourth quarter. Proficio Capital Partners LLC now owns 8,237 shares of the real estate investment trust’s stock worth $748,000 after buying an additional 426 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its position in Crown Castle by 0.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 742,904 shares of the real estate investment trust’s stock worth $67,426,000 after buying an additional 5,708 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Up 0.6 %

Shares of NYSE CCI opened at $94.79 on Thursday. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. 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 stock has a fifty day simple moving average of $90.00 and a 200-day simple moving average of $102.07. The stock has a market capitalization of $41.20 billion, a PE ratio of 33.61 and a beta of 0.88.

Crown Castle Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.60%. Crown Castle’s payout ratio is presently 221.99%.

Analysts Set New Price Targets

A number of brokerages recently commented on CCI. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday, January 23rd. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday, January 23rd. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $108.75.

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.