GC Wealth Management RIA LLC Boosts Stake in Crown Castle Inc. (NYSE:CCI)

GC Wealth Management RIA LLC lifted its holdings in Crown Castle Inc. (NYSE:CCI) by 58.3% in the 4th quarter, Holdings Channel reports. The firm owned 11,027 shares of the real estate investment trust’s stock after acquiring an additional 4,063 shares during the period. GC Wealth Management RIA LLC’s holdings in Crown Castle were worth $1,001,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CCI. FNY Investment Advisers LLC raised its stake in shares of Crown Castle by 300.0% in the fourth quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares during the last quarter. Roxbury Financial LLC purchased a new position in shares of Crown Castle in the fourth quarter worth $37,000. Investors Research Corp raised its stake in shares of Crown Castle by 57.2% in the third quarter. Investors Research Corp now owns 423 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 154 shares during the last quarter. Marshall Investment Management LLC purchased a new position in shares of Crown Castle in the fourth quarter worth $50,000. Finally, Bank of Jackson Hole Trust purchased a new position in shares of Crown Castle in the fourth quarter worth $53,000. Hedge funds and other institutional investors own 90.77% of the company’s stock.

Crown Castle Stock Performance

Shares of CCI opened at $98.45 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52 week low of $84.20 and a 52 week high of $120.92. The business has a 50-day simple moving average of $90.40 and a two-hundred day simple moving average of $101.75. The stock has a market cap of $42.79 billion, a price-to-earnings ratio of 34.91 and a beta of 0.89.

Crown Castle Dividend Announcement

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 given a dividend of $1.565 per share. This represents a $6.26 annualized dividend and a dividend yield of 6.36%. The ex-dividend date is Friday, March 14th. Crown Castle’s dividend payout ratio is currently 221.99%.

Analysts Set New Price Targets

Several analysts recently commented on the company. Barclays raised Crown Castle from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $117.00 to $104.00 in a report on Monday, January 13th. Wells Fargo & Company cut their price objective on Crown Castle from $100.00 to $85.00 and set an “underweight” rating for the company in a report on Thursday, January 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on Crown Castle from $116.00 to $96.00 and set a “hold” rating for the company in a report on Thursday, January 23rd. Scotiabank cut their price objective on Crown Castle from $118.00 to $102.00 and set a “sector perform” rating for the company in a report on Thursday, January 23rd. Finally, Jefferies Financial Group lowered Crown Castle from a “buy” rating to a “hold” rating and cut their price objective for the stock from $127.00 to $84.00 in a report on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Crown Castle has an average rating of “Hold” and a consensus price target of $108.75.

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.