Inlet Private Wealth LLC Acquires 19,370 Shares of Crown Castle Inc. (NYSE:CCI)

Inlet Private Wealth LLC boosted its holdings in Crown Castle Inc. (NYSE:CCI) by 62.2% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,533 shares of the real estate investment trust’s stock after acquiring an additional 19,370 shares during the quarter. Crown Castle accounts for about 1.2% of Inlet Private Wealth LLC’s investment portfolio, making the stock its 29th largest position. Inlet Private Wealth LLC’s holdings in Crown Castle were worth $4,586,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CCI. Catalyst Capital Advisors LLC bought a new stake in shares of Crown Castle during the 3rd quarter worth $25,000. Rosenberg Matthew Hamilton lifted its stake 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 last quarter. FNY Investment Advisers LLC boosted its holdings in shares of Crown Castle by 300.0% in the 4th 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 in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Crown Castle during the 3rd quarter valued at about $47,000. Finally, Friedenthal Financial purchased a new position in shares of Crown Castle during the 3rd quarter valued at about $50,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on CCI shares. Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. TD Cowen reduced their target price on shares of Crown Castle from $127.00 to $123.00 and set a “buy” rating on the stock in a report on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Finally, Citizens Jmp raised Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $110.13.

Crown Castle Price Performance

CCI opened at $89.25 on Friday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.54 and a current ratio of 0.54. Crown Castle Inc. has a 52-week low of $84.20 and a 52-week high of $120.92. The stock has a market capitalization of $38.79 billion, a PE ratio of 31.65 and a beta of 0.87. The stock’s 50 day moving average price is $93.78 and its 200-day moving average price is $104.91.

Crown Castle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a dividend yield of 7.01%. The ex-dividend date of this dividend was Friday, December 13th. 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.