Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys Shares of 2,849 Crown Castle Inc. (NYSE:CCI)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,849 shares of the real estate investment trust’s stock, valued at approximately $259,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Catalyst Capital Advisors LLC acquired a new position in shares of Crown Castle during the 3rd quarter valued at about $25,000. Rosenberg Matthew Hamilton boosted its position in Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock worth $31,000 after purchasing an additional 136 shares during the period. FNY Investment Advisers LLC grew its holdings in 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 valued at $36,000 after purchasing an additional 300 shares during the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle in the third quarter valued at approximately $47,000. Finally, Friedenthal Financial acquired a new stake in shares of Crown Castle in the third quarter worth $50,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.3 %

Shares of CCI opened at $88.99 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. The company has a 50-day moving average price of $94.42 and a two-hundred day moving average price of $105.12. The stock has a market cap of $38.67 billion, a price-to-earnings ratio of 31.56 and a beta of 0.87. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a yield of 7.03%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio is 221.99%.

Wall Street Analyst Weigh In

CCI has been the topic of several recent analyst reports. Moffett Nathanson dropped their target price on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Scotiabank cut 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. UBS Group raised their target price on Crown Castle from $103.00 to $118.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $127.00 to $84.00 in a research note on Thursday, January 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $110.13.

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.