HBK Sorce Advisory LLC Raises Position in Crown Castle Inc. (NYSE:CCI)

HBK Sorce Advisory LLC grew its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,474 shares of the real estate investment trust’s stock after purchasing an additional 173 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Crown Castle were worth $225,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Crown Castle during the 3rd quarter worth $522,000. Prime Capital Investment Advisors LLC increased its holdings in shares of Crown Castle by 10.0% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 7,419 shares of the real estate investment trust’s stock worth $880,000 after buying an additional 673 shares during the last quarter. Aptus Capital Advisors LLC increased its holdings in shares of Crown Castle by 9.3% during the 3rd quarter. Aptus Capital Advisors LLC now owns 3,960 shares of the real estate investment trust’s stock worth $470,000 after buying an additional 336 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Crown Castle by 1.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 28,657 shares of the real estate investment trust’s stock worth $3,400,000 after buying an additional 499 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Crown Castle by 8.0% during the 3rd quarter. CIBC Asset Management Inc now owns 64,047 shares of the real estate investment trust’s stock worth $7,598,000 after buying an additional 4,737 shares during the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI stock opened at $103.20 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 one year low of $84.20 and a one year high of $120.92. The company’s 50-day simple moving average is $91.00 and its 200-day simple moving average is $101.40. The stock has a market capitalization of $44.85 billion, a price-to-earnings ratio of 36.59 and a beta of 0.89.

Crown Castle Announces Dividend

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

Wall Street Analysts Forecast Growth

CCI has been the subject of a number of research analyst reports. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and dropped their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. JMP Securities began coverage on Crown Castle in a report on Monday, January 27th. They issued an “outperform” rating and a $115.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. UBS Group upgraded Crown Castle from a “neutral” rating to a “buy” rating and set a $118.00 price target for the company in a report on Friday. Finally, Scotiabank lowered their price target on Crown Castle from $102.00 to $99.00 and set a “sector perform” rating for the company in a report on Friday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Crown Castle presently has an average rating of “Moderate Buy” and an average target price of $109.12.

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.