Advocate Group LLC Lowers Stock Position in Crown Castle Inc. (NYSE:CCI)

Advocate Group LLC lowered its position in shares of Crown Castle Inc. (NYSE:CCI) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,664 shares of the real estate investment trust’s stock after selling 599 shares during the quarter. Advocate Group LLC’s holdings in Crown Castle were worth $2,420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinnacle Bancorp Inc. raised its holdings in shares of Crown Castle by 13.0% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 783 shares of the real estate investment trust’s stock worth $93,000 after acquiring an additional 90 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in shares of Crown Castle by 2.4% during the 2nd quarter. Pathway Financial Advisers LLC now owns 3,869 shares of the real estate investment trust’s stock worth $376,000 after acquiring an additional 91 shares in the last quarter. True North Advisors LLC raised its holdings in shares of Crown Castle by 4.2% during the 3rd quarter. True North Advisors LLC now owns 2,345 shares of the real estate investment trust’s stock worth $278,000 after acquiring an additional 95 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Crown Castle by 1.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 5,546 shares of the real estate investment trust’s stock worth $658,000 after acquiring an additional 100 shares in the last quarter. Finally, Tsfg LLC raised its holdings in shares of Crown Castle by 27.5% during the 3rd quarter. Tsfg LLC now owns 542 shares of the real estate investment trust’s stock worth $64,000 after acquiring an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Trading Down 0.2 %

Shares of NYSE CCI opened at $88.49 on Friday. The business has a fifty day moving average price of $95.29 and a 200 day moving average price of $105.30. 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 stock has a market capitalization of $38.46 billion, a P/E ratio of 31.38 and a beta of 0.87.

Crown Castle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a yield of 7.07%. The ex-dividend date was Friday, December 13th. Crown Castle’s dividend payout ratio (DPR) is presently 221.99%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CCI. Scotiabank cut their target price on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating on the stock in a research report on Thursday. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating on the stock in a research report on Thursday. Citigroup set a $128.00 price objective on Crown Castle in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft dropped their price target on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Royal Bank of Canada increased their price target on Crown Castle from $104.00 to $109.00 and gave the stock a “sector perform” rating in a research report on Monday, October 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $109.80.

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.