Millstone Evans Group LLC Takes $150,000 Position in Crown Castle Inc. (NYSE:CCI)

Millstone Evans Group LLC purchased a new stake in shares of Crown Castle Inc. (NYSE:CCI) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 1,650 shares of the real estate investment trust’s stock, valued at approximately $150,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CCI. Pathstone Holdings LLC raised its position in Crown Castle by 0.6% during the 3rd quarter. Pathstone Holdings LLC now owns 41,982 shares of the real estate investment trust’s stock valued at $4,980,000 after purchasing an additional 230 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Crown Castle during the 3rd quarter valued at approximately $2,922,000. King Luther Capital Management Corp raised its position in Crown Castle by 7.9% during the 3rd quarter. King Luther Capital Management Corp now owns 6,043 shares of the real estate investment trust’s stock valued at $717,000 after purchasing an additional 441 shares during the last quarter. Intech Investment Management LLC bought a new position in Crown Castle during the 3rd quarter valued at approximately $518,000. Finally, Great Valley Advisor Group Inc. bought a new position in Crown Castle during the 3rd quarter valued at approximately $363,000. Institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $106.61 on Friday. The business’s fifty day simple moving average is $92.77 and its two-hundred day simple moving average is $101.13. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The company has a market cap of $46.42 billion, a price-to-earnings ratio of 37.81 and a beta of 0.89.

Crown Castle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.565 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.26 annualized dividend and a yield of 5.87%. Crown Castle’s dividend payout ratio is -69.71%.

Analyst Ratings Changes

A number of research analysts have commented on CCI shares. Bank of America assumed coverage on Crown Castle in a research report on Thursday. They set a “neutral” rating and a $110.00 price target for the company. JMP Securities assumed coverage on Crown Castle in a report on Monday, January 27th. They set an “outperform” rating and a $115.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Crown Castle from $121.00 to $115.00 and set a “neutral” rating on the stock in a report on Monday, March 17th. Wells Fargo & Company upgraded Crown Castle from an “underweight” rating to an “equal weight” rating and upped their target price for the stock from $85.00 to $105.00 in a report on Monday, March 17th. Finally, Jefferies Financial Group downgraded Crown Castle from a “buy” rating to a “hold” rating and reduced their target price for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. Eleven investment analysts have rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $110.00.

About Crown Castle

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.