Alley Investment Management Company LLC Purchases 311 Shares of Crown Castle Inc. (NYSE:CCI)

Alley Investment Management Company LLC lifted its position in shares of Crown Castle Inc. (NYSE:CCI) by 0.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,030 shares of the real estate investment trust’s stock after purchasing an additional 311 shares during the period. Alley Investment Management Company LLC’s holdings in Crown Castle were worth $5,267,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Catalyst Capital Advisors LLC acquired a new position in Crown Castle in the third quarter valued at approximately $25,000. FNY Investment Advisers LLC raised its position in shares of 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 worth $36,000 after purchasing an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter worth approximately $37,000. Harbor Capital Advisors Inc. acquired a new position in shares of Crown Castle during the third quarter worth approximately $47,000. Finally, Investors Research Corp grew its holdings in Crown Castle by 57.2% during the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 154 shares in the last quarter. 90.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Moffett Nathanson cut their price target on Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Citigroup dropped their price objective on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Price Performance

CCI opened at $95.79 on Tuesday. The stock’s 50 day simple moving average is $89.86 and its 200 day simple moving average is $102.23. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a market cap of $41.63 billion, a price-to-earnings ratio of 33.97 and a beta of 0.88.

Crown Castle Announces Dividend

The business also recently declared 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 yield of 6.54%. Crown Castle’s payout ratio is 221.99%.

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.