HighTower Advisors LLC Has $12.75 Million Stake in Crown Castle Inc. (NYSE:CCI)

HighTower Advisors LLC decreased its stake in Crown Castle Inc. (NYSE:CCI) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,474 shares of the real estate investment trust’s stock after selling 10,479 shares during the quarter. HighTower Advisors LLC’s holdings in Crown Castle were worth $12,749,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC lifted its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in Crown Castle in the fourth quarter valued at about $37,000. Investors Research Corp lifted its stake in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 154 shares during the period. Marshall Investment Management LLC acquired a new position in Crown Castle in the fourth quarter valued at about $50,000. Finally, Bank of Jackson Hole Trust acquired a new position in Crown Castle in the fourth quarter valued at about $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CCI shares. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday, January 23rd. Citigroup raised their price target on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a research report on Friday. JMP Securities started coverage on Crown Castle in a research report on Monday, January 27th. They set an “outperform” rating and a $115.00 price target on the stock. KeyCorp raised Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research report on Friday. Finally, Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $109.12.

Crown Castle Stock Up 8.5 %

CCI stock opened at $103.20 on Monday. 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 business has a 50 day moving average price of $91.00 and a two-hundred day moving average price of $101.32. The company has a market cap of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92.

Crown Castle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.07%. Crown Castle’s dividend payout ratio is 221.99%.

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.