Keel Point LLC Takes Position in Crown Castle Inc. (NYSE:CCI)

Keel Point LLC purchased a new position in shares of Crown Castle Inc. (NYSE:CCI) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,903 shares of the real estate investment trust’s stock, valued at approximately $219,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Almanack Investment Partners LLC. purchased a new position in shares of Crown Castle during the 3rd quarter worth approximately $28,000. PCA Investment Advisory Services Inc. acquired a new position in Crown Castle during the second quarter worth $29,000. Riverview Trust Co raised its position in Crown Castle by 108.5% in the third quarter. Riverview Trust Co now owns 269 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 140 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Crown Castle in the fourth quarter valued at $37,000. Finally, Valley National Advisers Inc. boosted its position in shares of Crown Castle by 51.1% during the 4th quarter. Valley National Advisers Inc. now owns 287 shares of the real estate investment trust’s stock worth $33,000 after purchasing an additional 97 shares in the last quarter. Institutional investors and hedge funds own 90.77% of the company’s stock.

Crown Castle Trading Down 1.8 %

Shares of Crown Castle stock opened at $93.93 on Wednesday. Crown Castle Inc. has a 1 year low of $84.72 and a 1 year high of $134.09. The company has a debt-to-equity ratio of 3.46, a current ratio of 0.40 and a quick ratio of 0.40. The business has a 50 day moving average price of $105.69 and a 200 day moving average price of $105.23. The company has a market capitalization of $40.81 billion, a P/E ratio of 27.15, a P/E/G ratio of 2.54 and a beta of 0.73.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $1.565 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.66%. Crown Castle’s dividend payout ratio (DPR) is 180.92%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. BMO Capital Markets upgraded shares of Crown Castle from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $107.00 to $110.00 in a research note on Friday, January 19th. Royal Bank of Canada lifted their price target on shares of Crown Castle from $92.00 to $109.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 21st. Nine investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $118.93.

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.