Independent Advisor Alliance Acquires Shares of 4,359 Crown Castle Inc. (NYSE:CCI)

Independent Advisor Alliance acquired a new stake in Crown Castle Inc. (NYSE:CCI) in the fourth quarter, Holdings Channel reports. The fund acquired 4,359 shares of the real estate investment trust’s stock, valued at approximately $396,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AlphaQuest LLC grew its stake in Crown Castle by 98.3% in the fourth quarter. AlphaQuest LLC now owns 26,428 shares of the real estate investment trust’s stock valued at $2,399,000 after acquiring an additional 13,100 shares during the period. OFI Invest Asset Management bought a new position in shares of Crown Castle in the fourth quarter valued at approximately $747,000. Amundi lifted its holdings in shares of Crown Castle by 0.6% in the fourth quarter. Amundi now owns 1,830,573 shares of the real estate investment trust’s stock valued at $160,175,000 after purchasing an additional 11,008 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Crown Castle by 11.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 6,689 shares of the real estate investment trust’s stock valued at $607,000 after purchasing an additional 664 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in shares of Crown Castle by 570.2% in the fourth quarter. Larson Financial Group LLC now owns 1,843 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 1,568 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analysts Set New Price Targets

CCI has been the topic of a number of recent research reports. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Barclays raised their target price on Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a report on Monday. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 target price on the stock in a report on Friday. JMP Securities initiated coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. Finally, KeyCorp upgraded Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a report on Friday. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and a consensus price target of $110.29.

Crown Castle Price Performance

Shares of NYSE CCI opened at $102.91 on Tuesday. The stock has a market cap of $44.73 billion, a PE ratio of 36.49 and a beta of 0.89. Crown Castle Inc. has a fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. The stock has a fifty day moving average of $91.29 and a 200-day moving average of $101.26.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 6.08%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.