Proficio Capital Partners LLC Has $748,000 Stake in Crown Castle Inc. (NYSE:CCI)

Proficio Capital Partners LLC lifted its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 5.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,237 shares of the real estate investment trust’s stock after purchasing an additional 426 shares during the quarter. Proficio Capital Partners LLC’s holdings in Crown Castle were worth $748,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cbre Investment Management Listed Real Assets LLC boosted its position in shares of Crown Castle by 0.8% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 742,904 shares of the real estate investment trust’s stock worth $67,426,000 after buying an additional 5,708 shares during the period. Assetmark Inc. boosted its position in Crown Castle by 5.8% during the 4th quarter. Assetmark Inc. now owns 20,215 shares of the real estate investment trust’s stock worth $1,835,000 after acquiring an additional 1,102 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Crown Castle by 29.5% in the fourth quarter. Victory Capital Management Inc. now owns 367,900 shares of the real estate investment trust’s stock valued at $33,391,000 after purchasing an additional 83,915 shares during the last quarter. Alley Investment Management Company LLC lifted its position in shares of Crown Castle by 0.5% in the fourth quarter. Alley Investment Management Company LLC now owns 58,030 shares of the real estate investment trust’s stock worth $5,267,000 after purchasing an additional 311 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI boosted its holdings in Crown Castle by 17.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 32,843 shares of the real estate investment trust’s stock worth $2,949,000 after purchasing an additional 4,836 shares during the last quarter. Institutional investors own 90.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on CCI shares. Citigroup lifted their target price on Crown Castle from $106.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, March 14th. Citizens Jmp upgraded Crown Castle to a “strong-buy” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. decreased their target price on shares of Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research note on Monday, March 17th. KeyCorp raised shares of Crown Castle from a “sector weight” rating to an “overweight” rating and set a $120.00 price target on the stock in a research report on Friday, March 14th. Finally, Barclays increased their price target on shares of Crown Castle from $104.00 to $113.00 and gave the company an “overweight” rating in a research note on Monday, March 17th. Eleven research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Crown Castle currently has a consensus rating of “Moderate Buy” and an average target price of $110.00.

Crown Castle Stock Up 1.9 %

Shares of CCI opened at $106.61 on Friday. The firm has a market cap of $46.42 billion, a P/E ratio of 37.81 and a beta of 0.89. Crown Castle Inc. has a 1 year low of $84.20 and a 1 year high of $120.92. The stock has a 50 day simple moving average of $92.77 and a two-hundred day simple moving average of $101.13. 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 Announces Dividend

The firm 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 dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 5.87%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

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.