Applied Capital LLC FL Acquires 1,151 Shares of Crown Castle Inc. (NYSE:CCI)

Applied Capital LLC FL raised its holdings in Crown Castle Inc. (NYSE:CCI) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,214 shares of the real estate investment trust’s stock after buying an additional 1,151 shares during the quarter. Applied Capital LLC FL’s holdings in Crown Castle were worth $1,109,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Pinnacle Bancorp Inc. boosted its holdings in Crown Castle by 13.0% in the third quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock valued at $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock valued at $376,000 after purchasing an additional 91 shares in the last quarter. True North Advisors LLC boosted its stake in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock valued at $278,000 after purchasing an additional 95 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of Crown Castle by 1.8% during the third quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock valued at $658,000 after buying an additional 100 shares during the period. Finally, Tsfg LLC raised its stake in Crown Castle by 27.5% in the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after buying an additional 117 shares in the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CCI. UBS Group upped their price target on Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a research note on Thursday, October 17th. 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. Deutsche Bank Aktiengesellschaft lowered their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research note on Thursday. Wells Fargo & Company reduced their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. Finally, Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $109.80.

Crown Castle Price Performance

Shares of CCI opened at $88.49 on Friday. The firm has a fifty day simple moving average of $95.29 and a two-hundred day simple moving average of $105.30. The firm has a market cap of $38.46 billion, a PE ratio of 31.38 and a beta of 0.87. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend 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.