Crown Castle Inc. (NYSE:CCI) Shares Purchased by Summit Securities Group LLC

Summit Securities Group LLC grew its stake in shares of Crown Castle Inc. (NYSE:CCI) by 367.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,401 shares of the real estate investment trust’s stock after purchasing an additional 1,101 shares during the period. Summit Securities Group LLC’s holdings in Crown Castle were worth $127,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Tree Management LP acquired a new stake in shares of Crown Castle during the fourth quarter worth $25,000. FNY Investment Advisers LLC grew its holdings in Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 300 shares during the period. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the 4th quarter valued at about $37,000. Marshall Investment Management LLC purchased a new position in shares of Crown Castle during the 4th quarter worth about $50,000. Finally, Bank of Jackson Hole Trust acquired a new stake in shares of Crown Castle in the fourth quarter worth approximately $53,000. Institutional investors and hedge funds own 90.77% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on CCI. Argus raised shares of Crown Castle to a “hold” rating in a research note on Friday, March 21st. JPMorgan Chase & Co. lowered their price target on Crown Castle from $121.00 to $115.00 and set a “neutral” rating for the company in a research report on Monday, March 17th. Citigroup boosted their target price on Crown Castle from $106.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, March 14th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Crown Castle from $116.00 to $96.00 and set a “hold” rating on the stock in a report on Thursday, January 23rd. Finally, Moffett Nathanson decreased their price objective on shares of Crown Castle from $127.00 to $105.00 in a research note on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Crown Castle presently has a consensus rating of “Moderate Buy” and an average price target of $110.00.

Crown Castle Price Performance

Shares of NYSE:CCI opened at $103.61 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.43. The firm’s 50 day moving average is $94.20 and its two-hundred day moving average is $100.65. The firm has a market capitalization of $45.11 billion, a P/E ratio of 36.74 and a beta of 0.89. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92.

Crown Castle Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, March 14th. This represents a $6.26 dividend on an annualized basis and a yield of 6.04%. Crown Castle’s dividend payout ratio (DPR) is presently -69.71%.

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.