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

Checchi Capital Advisers LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 108.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,845 shares of the real estate investment trust’s stock after buying an additional 7,207 shares during the period. Checchi Capital Advisers LLC’s holdings in Crown Castle were worth $1,257,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of Crown Castle by 3.7% during the third quarter. State Street Corp now owns 20,875,581 shares of the real estate investment trust’s stock worth $2,476,470,000 after buying an additional 747,390 shares during the period. Wellington Management Group LLP raised its stake in shares of Crown Castle by 23.8% in the third quarter. Wellington Management Group LLP now owns 17,528,597 shares of the real estate investment trust’s stock valued at $2,079,417,000 after acquiring an additional 3,371,186 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Crown Castle by 1.3% in the third quarter. Geode Capital Management LLC now owns 12,105,151 shares of the real estate investment trust’s stock valued at $1,434,229,000 after acquiring an additional 151,990 shares in the last quarter. Barclays PLC raised its stake in shares of Crown Castle by 7.2% in the third quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock valued at $613,900,000 after acquiring an additional 348,296 shares in the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Crown Castle by 4.2% in the third quarter. Fisher Asset Management LLC now owns 5,088,017 shares of the real estate investment trust’s stock valued at $603,592,000 after acquiring an additional 203,442 shares in the last quarter. 90.77% of the stock is currently owned by hedge funds and other institutional investors.

Crown Castle Stock Down 1.9 %

CCI opened at $91.58 on Thursday. The business’s 50-day simple moving average is $89.63 and its 200-day simple moving average is $102.61. 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 stock has a market capitalization of $39.80 billion, a P/E ratio of 32.48 and a beta of 0.88.

Crown Castle Announces Dividend

The company also recently announced 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. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.84%. Crown Castle’s dividend payout ratio (DPR) is currently 221.99%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CCI. Wells Fargo & Company reduced their price objective 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. Deutsche Bank Aktiengesellschaft reduced their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and reduced their price objective for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Barclays upgraded Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $117.00 to $104.00 in a research note on Monday, January 13th. Finally, Citigroup cut their price target on Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus 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.