Crown Castle Inc. (NYSE:CCI) Shares Bought by Providence Capital Advisors LLC

Providence Capital Advisors LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,668 shares of the real estate investment trust’s stock after acquiring an additional 150 shares during the period. Providence Capital Advisors LLC’s holdings in Crown Castle were worth $2,057,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Accurate Wealth Management LLC increased its stake in Crown Castle by 5.4% during the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after acquiring an additional 124 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Crown Castle by 12.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock worth $103,000 after purchasing an additional 126 shares during the period. IFP Advisors Inc increased its position in Crown Castle by 5.9% during the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock worth $216,000 after purchasing an additional 133 shares in the last quarter. Howard Capital Management Inc. raised its holdings in Crown Castle by 1.2% in the fourth quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock valued at $1,041,000 after buying an additional 135 shares during the period. Finally, Cidel Asset Management Inc. raised its holdings in Crown Castle by 6.4% in the fourth quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 137 shares during the period. 90.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CCI. Wolfe Research raised shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a research report on Monday, March 17th. Barclays raised their price objective on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday, March 17th. Raymond James upgraded Crown Castle from an “outperform” rating to a “strong-buy” rating and reduced their price objective for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Deutsche Bank Aktiengesellschaft lowered their target price on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday, January 23rd. Finally, JMP Securities started coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Eleven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.00.

Crown Castle Stock Up 1.5 %

CCI stock opened at $102.61 on Friday. The firm has a fifty day moving average price of $93.95 and a two-hundred day moving average price of $100.88. 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 $44.68 billion, a price-to-earnings ratio of 36.38 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.10%. Crown Castle’s dividend payout ratio (DPR) is -69.71%.

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.