NewEdge Wealth LLC Has $1.94 Million Stock Position in Crown Castle Inc. (NYSE:CCI)

NewEdge Wealth LLC lowered its position in Crown Castle Inc. (NYSE:CCI - Free Report) by 17.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,413 shares of the real estate investment trust's stock after selling 4,595 shares during the quarter. NewEdge Wealth LLC's holdings in Crown Castle were worth $1,943,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Catalyst Capital Advisors LLC acquired a new stake in Crown Castle in the third quarter worth about $25,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Crown Castle in the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC boosted its holdings 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 valued at $36,000 after acquiring an additional 300 shares in the last quarter. Roxbury Financial LLC acquired a new position in shares of Crown Castle during the fourth quarter valued at approximately $37,000. Finally, Investors Research Corp raised its holdings in Crown Castle by 57.2% during 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 in the last quarter. Institutional investors own 90.77% of the company's stock.

Crown Castle Stock Up 1.4 %

NYSE CCI traded up $1.32 during trading on Monday, reaching $95.42. 876,690 shares of the company's stock were exchanged, compared to its average volume of 2,526,808. 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 fifty-two week low of $84.20 and a fifty-two week high of $120.92. The company's fifty day simple moving average is $89.75 and its 200-day simple moving average is $102.32. The firm has a market capitalization of $41.47 billion, a PE ratio of 33.89 and a beta of 0.88.

Crown Castle Announces Dividend

The business 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. This represents a $6.26 dividend on an annualized basis and a dividend yield of 6.56%. The ex-dividend date of this dividend is Friday, March 14th. Crown Castle's dividend payout ratio (DPR) is currently 221.99%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CCI. Deutsche Bank Aktiengesellschaft decreased their price target on Crown Castle from $116.00 to $96.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Citizens Jmp raised Crown Castle to a "strong-buy" rating in a report on Monday, January 27th. Moffett Nathanson cut their price target on shares of Crown Castle from $127.00 to $105.00 in a report on Thursday, January 23rd. Barclays raised shares of Crown Castle from an "equal weight" rating to an "overweight" rating and lowered their price objective for the stock from $117.00 to $104.00 in a research note on Monday, January 13th. Finally, Citigroup dropped their target price on shares of Crown Castle from $128.00 to $106.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $108.75.

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.