Slagle Financial LLC Buys 1,670 Shares of Crown Castle Inc. (NYSE:CCI)

Slagle Financial LLC raised its position in shares of Crown Castle Inc. (NYSE:CCI) by 6.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,577 shares of the real estate investment trust’s stock after buying an additional 1,670 shares during the quarter. Slagle Financial LLC’s holdings in Crown Castle were worth $2,412,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Accurate Wealth Management LLC grew its holdings in shares of Crown Castle by 5.4% during the fourth quarter. Accurate Wealth Management LLC now owns 2,429 shares of the real estate investment trust’s stock worth $205,000 after buying an additional 124 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in Crown Castle by 12.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,137 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 126 shares during the last quarter. IFP Advisors Inc lifted its holdings in shares of Crown Castle by 5.9% in the 4th quarter. IFP Advisors Inc now owns 2,373 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 133 shares during the last quarter. Howard Capital Management Inc. boosted its stake in Crown Castle by 1.2% during the 4th quarter. Howard Capital Management Inc. now owns 11,475 shares of the real estate investment trust’s stock worth $1,041,000 after purchasing an additional 135 shares during the period. Finally, Cidel Asset Management Inc. increased its stake in Crown Castle by 6.4% in the 4th quarter. Cidel Asset Management Inc. now owns 2,285 shares of the real estate investment trust’s stock valued at $207,000 after buying an additional 137 shares during the period. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Up 1.5 %

CCI opened at $102.61 on Friday. 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 Inc. has a 12 month low of $84.20 and a 12 month high of $120.92. The stock’s 50 day moving average price is $93.95 and its 200 day moving average price is $100.88. The stock has a market cap of $44.68 billion, a P/E ratio of 36.38 and a beta of 0.89.

Crown Castle Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $1.565 dividend. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle’s dividend payout ratio is currently -69.71%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company raised shares of Crown Castle from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $85.00 to $105.00 in a research note on Monday, March 17th. Wolfe Research upgraded shares of Crown Castle from an “underperform” rating to a “peer perform” rating in a report on Monday, March 17th. BMO Capital Markets reissued a “market perform” rating on shares of Crown Castle in a research note on Tuesday. Citigroup increased their price objective on shares of Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Finally, Raymond James raised shares of Crown Castle from an “outperform” rating to a “strong-buy” rating and cut their price target for the stock from $128.00 to $122.00 in a research note on Friday, March 14th. Eleven equities research 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 company’s stock. According to data from MarketBeat, Crown Castle presently has an average rating of “Moderate Buy” and an average target price 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.