Proficio Capital Partners LLC Raises Stock Holdings in Crown Castle Inc. (NYSE:CCI)

Proficio Capital Partners LLC increased its stake in shares of Crown Castle Inc. (NYSE:CCI) by 9,471.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 747,590 shares of the real estate investment trust’s stock after purchasing an additional 739,779 shares during the quarter. Proficio Capital Partners LLC owned approximately 0.17% of Crown Castle worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in CCI. State Street Corp boosted its position in shares of Crown Castle by 3.7% in 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 acquiring an additional 747,390 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Crown Castle by 23.8% in the 3rd 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 purchasing an additional 3,371,186 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Crown Castle by 1.3% in the 3rd 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 purchasing an additional 151,990 shares during the last quarter. Barclays PLC grew its holdings in shares of Crown Castle by 7.2% during the 3rd quarter. Barclays PLC now owns 5,174,920 shares of the real estate investment trust’s stock worth $613,900,000 after purchasing an additional 348,296 shares during the period. Finally, Fisher Asset Management LLC increased its holdings in Crown Castle by 4.2% in the 3rd 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 purchasing an additional 203,442 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CCI. Moffett Nathanson dropped their target price on Crown Castle from $127.00 to $105.00 in a research report on Thursday, January 23rd. Jefferies Financial Group cut Crown Castle from a “buy” rating to a “hold” rating and cut their target price for the company from $127.00 to $84.00 in a research note on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a research report on Thursday, January 23rd. Citigroup cut their price objective on shares of Crown Castle from $128.00 to $106.00 and set a “buy” rating on the stock in a research report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their target price on shares of Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $108.75.

Crown Castle Trading Up 2.7 %

Shares of NYSE CCI opened at $97.78 on Friday. The business has a fifty day simple moving average of $90.22 and a 200-day simple moving average of $101.88. The company has a market cap of $42.49 billion, a price-to-earnings ratio of 34.67 and a beta of 0.89. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 yield of 6.40%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s payout ratio is 221.99%.

Crown Castle Company 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.