First American Bank Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

First American Bank raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 61,591 shares of the real estate investment trust’s stock after buying an additional 828 shares during the quarter. First American Bank’s holdings in Crown Castle were worth $5,590,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. QRG Capital Management Inc. lifted its position in Crown Castle by 19.2% during the 4th quarter. QRG Capital Management Inc. now owns 40,837 shares of the real estate investment trust’s stock valued at $3,706,000 after acquiring an additional 6,565 shares during the period. Versor Investments LP increased its holdings in shares of Crown Castle by 120.0% in the 4th quarter. Versor Investments LP now owns 8,447 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 4,608 shares in the last quarter. First Command Advisory Services Inc. bought a new stake in Crown Castle in the 4th quarter worth about $136,000. Proficio Capital Partners LLC raised its position in Crown Castle by 9,471.0% in the 4th quarter. Proficio Capital Partners LLC now owns 747,590 shares of the real estate investment trust’s stock worth $748,000 after buying an additional 739,779 shares during the last quarter. Finally, Checchi Capital Advisers LLC lifted its stake in Crown Castle by 108.6% during the 4th quarter. Checchi Capital Advisers LLC now owns 13,845 shares of the real estate investment trust’s stock valued at $1,257,000 after acquiring an additional 7,207 shares during the period. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CCI shares. Citizens Jmp upgraded shares of Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. Citigroup cut their target price on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating for the company in a research report on Thursday, February 13th. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and lowered their price target for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Finally, Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $117.00 to $104.00 in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Crown Castle presently has an average rating of “Hold” and a consensus target price of $108.75.

Crown Castle Stock Performance

Shares of NYSE CCI opened at $93.58 on Friday. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.54 and a quick ratio of 0.54. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The firm has a fifty day moving average price of $89.69 and a 200-day moving average price of $102.55. The stock has a market cap of $40.67 billion, a PE ratio of 33.18 and a beta of 0.88.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.565 per share. 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 6.69%. Crown Castle’s dividend payout ratio is presently 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.