Checchi Capital Advisers LLC Grows Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Checchi Capital Advisers LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 108.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,845 shares of the real estate investment trust’s stock after buying an additional 7,207 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Crown Castle were worth $1,257,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in CCI. Wellington Management Group LLP grew its holdings in shares of Crown Castle by 23.8% during the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock worth $2,079,417,000 after buying an additional 3,371,186 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Crown Castle by 433.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,968,959 shares of the real estate investment trust’s stock valued at $470,838,000 after purchasing an additional 3,225,460 shares in the last quarter. State Street Corp boosted its holdings in Crown Castle by 3.7% in the 3rd quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock valued at $2,476,470,000 after purchasing an additional 747,390 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Crown Castle by 25.4% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,166,236 shares of the real estate investment trust’s stock valued at $375,610,000 after purchasing an additional 642,010 shares in the last quarter. Finally, Mizuho Markets Americas LLC boosted its holdings in Crown Castle by 70.0% in the 3rd quarter. Mizuho Markets Americas LLC now owns 850,000 shares of the real estate investment trust’s stock valued at $100,836,000 after purchasing an additional 350,000 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 1.9 %

Shares of Crown Castle stock opened at $91.58 on Thursday. 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 company has a market capitalization of $39.80 billion, a P/E ratio of 32.48 and a beta of 0.88. The business has a 50 day moving average price of $89.63 and a 200 day moving average price of $102.61.

Crown Castle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.84%. Crown Castle’s dividend payout ratio is currently 221.99%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CCI shares. Moffett Nathanson lowered their price objective on Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and lowered their price objective for the company from $127.00 to $84.00 in a report on Thursday, January 2nd. Citizens Jmp raised Crown Castle to a “strong-buy” rating in a report on Monday, January 27th. Scotiabank lowered their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a report on Thursday, January 23rd. Finally, Wells Fargo & Company decreased their price target on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.75.

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.