Sonora Investment Management Group LLC Acquires New Position in Crown Castle Inc. (NYSE:CCI)

Sonora Investment Management Group LLC acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 5,342 shares of the real estate investment trust’s stock, valued at approximately $485,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the third quarter valued at approximately $25,000. Rosenberg Matthew Hamilton boosted its stake in Crown Castle by 107.9% in the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after acquiring an additional 136 shares during the period. FNY Investment Advisers LLC boosted 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 valued at $36,000 after acquiring an additional 300 shares during the period. Harbor Capital Advisors Inc. acquired a new position in Crown Castle in the third quarter valued at approximately $47,000. Finally, Friedenthal Financial acquired a new position in Crown Castle in the third quarter valued at approximately $50,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $89.25 on Friday. The company’s fifty day moving average is $94.11 and its two-hundred day moving average is $105.01. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company has a market cap of $38.79 billion, a P/E ratio of 31.65 and a beta of 0.87.

Crown Castle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 7.01%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Upgrades and Downgrades

CCI has been the subject of several analyst reports. Scotiabank reduced their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a research report on Thursday, January 23rd. TD Cowen reduced their price objective on Crown Castle from $127.00 to $123.00 and set a “buy” rating for the company in a research report on Thursday, October 17th. 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. JMP Securities initiated coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price objective for the company. Finally, Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Crown Castle presently has an average rating of “Hold” and an average price target of $110.13.

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.