Foundations Investment Advisors LLC Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Foundations Investment Advisors LLC raised its position in Crown Castle Inc. (NYSE:CCI) by 44.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 48,918 shares of the real estate investment trust’s stock after acquiring an additional 14,975 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Crown Castle were worth $4,440,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of CCI. Pacer Advisors Inc. increased its holdings in shares of Crown Castle by 21.3% during the fourth quarter. Pacer Advisors Inc. now owns 247,572 shares of the real estate investment trust’s stock valued at $22,470,000 after acquiring an additional 43,439 shares in the last quarter. Blue Trust Inc. increased its stake in Crown Castle by 38.5% during the 4th quarter. Blue Trust Inc. now owns 3,782 shares of the real estate investment trust’s stock valued at $343,000 after purchasing an additional 1,051 shares in the last quarter. Maple Brown Abbott Ltd raised its holdings in shares of Crown Castle by 7.9% in the fourth quarter. Maple Brown Abbott Ltd now owns 945,268 shares of the real estate investment trust’s stock worth $85,793,000 after buying an additional 69,150 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Crown Castle during the fourth quarter valued at $259,000. Finally, Applied Capital LLC FL grew its holdings in shares of Crown Castle by 10.4% during the fourth quarter. Applied Capital LLC FL now owns 12,214 shares of the real estate investment trust’s stock valued at $1,109,000 after buying an additional 1,151 shares during the last quarter. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CCI shares. Royal Bank of Canada boosted their price target on Crown Castle from $104.00 to $109.00 and gave the company a “sector perform” rating in a research note on Monday, October 28th. JMP Securities started coverage on shares of Crown Castle in a report on Monday. They issued an “outperform” rating and a $115.00 price target on the stock. Jefferies Financial Group lowered shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the stock from $127.00 to $84.00 in a research report on Thursday, January 2nd. Citigroup set a $128.00 price objective on shares of Crown Castle in a report on Thursday, October 17th. Finally, UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $110.13.

Crown Castle Trading Up 4.3 %

Shares of CCI stock opened at $92.33 on Tuesday. Crown Castle Inc. has a 1-year low of $84.20 and a 1-year high of $120.92. The company has a market cap of $40.13 billion, a price-to-earnings ratio of 32.74 and a beta of 0.87. 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 stock has a 50 day simple moving average of $95.29 and a 200-day simple moving average of $105.41.

Crown Castle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a yield of 6.78%. The ex-dividend date of this dividend was Friday, December 13th. Crown Castle’s payout ratio is 221.99%.

Crown Castle Company 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.