SG Americas Securities LLC Increases Stake in Crown Castle Inc. (NYSE:CCI)

SG Americas Securities LLC lifted its position in Crown Castle Inc. (NYSE:CCI) by 3,607.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,585 shares of the real estate investment trust’s stock after acquiring an additional 189,336 shares during the quarter. SG Americas Securities LLC’s holdings in Crown Castle were worth $17,661,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. grew its stake in Crown Castle by 13.0% during the 3rd 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 lifted its stake in Crown Castle by 2.4% in the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after purchasing an additional 91 shares in the last quarter. True North Advisors LLC boosted its holdings 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 worth $278,000 after purchasing an additional 95 shares during the last quarter. Malaga Cove Capital LLC grew its position in shares of Crown Castle by 1.8% in 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 purchasing an additional 100 shares in the last quarter. Finally, Tsfg LLC increased its holdings in shares of Crown Castle by 27.5% in the third quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock valued at $64,000 after purchasing an additional 117 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Jefferies Financial Group lowered 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. Wells Fargo & Company dropped their price objective on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday. Barclays raised shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Finally, Royal Bank of Canada lifted their price target on shares of Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research report on Monday, October 28th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $109.80.

Crown Castle Stock Up 0.2 %

Shares of NYSE:CCI opened at $88.62 on Friday. The firm has a market capitalization of $38.51 billion, a PE ratio of 31.43 and a beta of 0.87. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. The firm’s 50-day moving average is $95.88 and its two-hundred day moving average is $105.47.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 annualized dividend and a dividend yield of 7.06%. The ex-dividend date was Friday, December 13th. Crown Castle’s payout ratio is currently 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.