Advisors Asset Management Inc. Acquires 4,529 Shares of Crown Castle Inc. (NYSE:CCI)

Advisors Asset Management Inc. lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 3.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,863 shares of the real estate investment trust’s stock after purchasing an additional 4,529 shares during the quarter. Advisors Asset Management Inc.’s holdings in Crown Castle were worth $13,692,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in CCI. Twin Tree Management LP bought a new position in shares of Crown Castle during the fourth quarter worth approximately $25,000. FNY Investment Advisers LLC increased its stake in Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after acquiring an additional 300 shares during the last quarter. Roxbury Financial LLC bought a new position in Crown Castle in the fourth quarter valued at approximately $37,000. Investors Research Corp increased its stake in Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock valued at $50,000 after acquiring an additional 154 shares during the last quarter. Finally, Marshall Investment Management LLC bought a new position in Crown Castle in the fourth quarter valued at approximately $50,000. 90.77% of the stock is owned by institutional investors.

Crown Castle Price Performance

CCI stock opened at $102.91 on Tuesday. The firm has a market cap of $44.73 billion, a price-to-earnings ratio of 36.49 and a beta of 0.89. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12-month low of $84.20 and a 12-month high of $120.92. The company’s fifty day simple moving average is $91.29 and its 200 day simple moving average is $101.26.

Crown Castle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $1.565 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 6.08%. Crown Castle’s payout ratio is -69.71%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CCI shares. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price objective on the stock in a research note on Friday. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Citigroup lifted their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research note on Friday. JMP Securities began coverage on shares of Crown Castle in a research note on Monday, January 27th. They issued an “outperform” rating and a $115.00 price objective on the stock. Finally, Barclays raised their target price on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research report on Monday. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.29.

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.